Bitcoin Holds $77,300 Into the Weekend, Leaving IBIT Near Friday’s Fair Value

Bitcoin was holding near $77,300 on Saturday, leaving the largest U.S. spot-Bitcoin fund with almost no catch-up move to make if the cryptocurrency stays there through Monday’s open.

Bitcoin changed hands at $77,344.85 at 16:38 UTC on September 12, according to Coinbase Exchange’s live BTC-USD feed. It was down 0.70% from the exchange’s rolling 24-hour open, with a $76,850–$77,948.84 range. Kraken’s independent quote was $77,348.70, a difference of less than $4.

Inflation raised the hurdle, but did not break the range

The weekend pause follows a sharp, two-way response to Friday’s U.S. inflation report. Coinbase hourly data show Bitcoin reaching $79,852.22 after the 8:30 a.m. ET release, then retreating as low as $76,850. The failure to hold $80,000 matters more than the brief print: buyers proved willing to chase the initial move, but not willing enough to establish a new range above that round number.

The macro backdrop remains demanding for an asset that pays no income. The Bureau of Labor Statistics said August consumer prices rose 0.4% from July and 3.4% from a year earlier. Core prices increased 0.3% on the month and 2.4% over 12 months. The 10-year Treasury yield ended Friday at 4.96%, keeping the opportunity cost of holding Bitcoin high.