“The Cycle Has Turned”: Bitcoin Faces a Decisive Month as It Holds Above $81,000

Forecast Trend Report by Period

Bitcoin has extended its gains and established a foothold above $81,000, with on-chain indicators pointing to the start of a bullish cycle. The cryptocurrency’s next move may be determined by policy events scheduled for mid-September.

According to CoinMarketCap data on September 4, Bitcoin began climbing at about 8 p.m. on September 3 and briefly rose above $82,000. It was the first time the token traded above $82,000 since mid-May, roughly four months ago. Bitcoin is now trading in the low $81,000 range.

The advance came as U.S. Treasury yields eased and senior Federal Reserve officials delivered dovish remarks. Fed Governor Christopher Waller indicated support for leaving rates unchanged at the September Federal Open Market Committee meeting if August inflation data confirms that price pressures are cooling.