Bitcoin Rallies Above $80,000 as Fed Rate Fears Ease

Key Moments

• Bitcoin (BTC) is trading above $80,762 after a 5% advance in the prior session, maintaining a bullish near-term structure.
• Fed Governor Christopher Waller’s dovish comments cut the implied probability of a September rate hike from nearly 70% to 50%.
• Zcash (ZEC) and Ethena (ENA) continue to outperform, with ZEC recently hitting a record $979 and ENA holding above $0.1600.

Fed Rhetoric Supports Risk Appetite

Bitcoin (BTC) is trading above $80,000 on Friday, with the broader crypto complex reflecting a risk-on tone. Federal Reserve Governor Christopher Waller indicated on Thursday that he could back a pause in interest rate increases at the September policy meeting if August inflation data point to easing price pressures, as previously reported by FXStreet.

These dovish remarks reduced the perceived likelihood of a September rate hike to 50%, down from nearly 70% earlier in the week, according to market-derived pricing referenced in the report.

Bitcoin Technical Setup: Bulls Retain the Upper Hand

Bitcoin is quoted above $80,762 at press time on Thursday, extending a 5% gain from the previous day and preserving a constructive short-term bias. The move higher leaves BTC comfortably above its 50-, 100-, and 200-day Exponential Moving Averages (EMAs), which are clustered between roughly $69,700 and $72,500, reinforcing the prevailing bullish structure.