Bitcoin Steady, Stays Below $80,000 — Market Talk

Bitcoin trades steady at $78,545, LSEG data show, remaining below the key $80,000 level after U.S. Federal Reserve Chairman Kevin Warsh on Friday warned of inflation risks and the possibility of an interest-rate rise. U.S. money markets now price a 60% chance of a rate increase at the Fed's Sept. 16 decision, LSEG data show. Still, bitcoin has recovered modestly from losses after Warsh's speech. A U.S. rate hike in September isn't a done deal and much will depend on Friday's jobs figures and next week's inflation data. "Warsh has explained his current understanding of inflation, but this week's jobs data and the September 11 CPI report for August hold the key for the September meeting," says XM's Achilleas Georgolopoulos in a note. ([email protected])