[Analysis] Bitcoin’s Break Above $80,000 Hinges on Fed Rate Policy

Forecast Trend Report by Period

Bitcoin’s ability to break above $80,000 and extend its gains will hinge on the Federal Reserve’s interest-rate policy, according to a market analysis.

Cointelegraph reported on Sept. 8 that James Butterfill, head of research at CoinShares, wrote in a recent market report that “Bitcoin is trading like gold again, but the Fed is still capping gains at around $80,000.”

Flows into crypto investment products have also swung sharply with shifts in rate expectations. After Fed Chair Kevin Warsh said in his Jackson Hole speech that progress on inflation had been limited, the odds of a September rate increase rose. Roughly $100 million then flowed out of digital-asset investment products.