Bitcoin Remains Pressured by Rate-Hike Expectations — Market Talk

Bitcoin edges lower in Asia, staying below $80,000 as rate-hike expectations weigh. It's going to be a cautious few weeks for Bitcoin ahead of the Fed's next meeting, where markets are pricing a 25bp hike at about 65%, says IG's Tony Sycamore. One hike in isolation should not be a gamechanger as Bitcoin looks to build on its August rally, the analyst says. But two or three might be, and at this point IG sees about 60bp of Fed rate hikes priced by June 2027. From a technical perspective, dips back into the mid-to-low $70s will likely be well-supported, says Sycamore. A sustained break above the $81,500/$83,000 resistance area will be needed to signal that a move toward $95,000-$100,000 is underway. Bitcoin slip 0.2% to $78,725. ([email protected])