Bitcoin Reclaims $79,000 as Inflation Data Looms Ahead of FOMC

Bitcoin has reclaimed the $79,000 level, but the market's focus is now entirely on next week's Federal Open Market Committee (FOMC) meeting. This week's Producer Price Index (PPI) and Consumer Price Index (CPI) releases are the final macro indicators that will shape the rate trajectory.

As of September 9 on Binance's USDT market, Bitcoin dipped to $77,670 (~103.5 million won) during intraday trading before buying pressure pushed it back up to $79,181 (~110.2 million won) around 1:56 p.m. The 24-hour range was modest, but the cryptocurrency has gained roughly 2% over the past week.

The primary headwind is the macro environment. Escalating tensions in the Middle East have driven Brent crude near $100 per barrel (~133 million won), while gold has surged to around $4,407 per ounce (~5.9 million won). The U.S. 10-year Treasury yield is hovering near 4.8%, with the 2-year above 4.3%, weighing on risk assets broadly.

The decisive factor was the U.S. August nonfarm payrolls report released on the 5th, which showed 162,000 jobs added—far exceeding market expectations of 55,000. The unemployment rate held steady at 4.1%. According to CME FedWatch, the market is now pricing in a roughly 60% probability that the Federal Reserve will raise its benchmark rate by 25 basis points at the FOMC meeting on the 15th–16th.