Bitcoin Reclaims $80,000 Amid Dovish Fed Signal

Bitcoin reclaimed ground above $80,000 today, September 3rd, ripping from the mid-$77,000s this morning to an intraday high above $81,000 at the time of writing.

What's the Scoop?

• The catalyst: Fed Governor Christopher Waller signaled he'd back a hold at the Fed's mid-September meeting so long as next week's August inflation print keeps trending the right way. The comments pulled hike odds lower after a hawkish Jackson Hole speech from Chair Kevin Warsh had put a September increase back in play.

• The tape: Bitcoin gained roughly 5% on the day. Gold also rose while the dollar slipped and the 10-year yield eased off recent multi-year highs near 4.82%.

• Flows: U.S. spot bitcoin ETFs posted $101 million in net inflows on Wednesday, led by BlackRock's IBIT, after a $236 million outflow the prior session. Last week Strategy also made its first bitcoin purchase since June 2026.

• The setup: Inflation is still above the Fed's 2% target, oil remains elevated amid sustained U.S.-Iran tensions, and September is historically a weak month for BTC. The next big tests on the slate are Friday's jobs report, the September 11th CPI, and the FOMC.