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Fed shifts toward September rate hike; key factor for bitcoin this week

Bitcoin posted its first weekly close above $80,000 since May, but analysts say it is too early to treat the level as firm support. The market is focused on U.S. August CPI and PPI data and the Federal Reserve meeting on Sept. 16, as stronger jobs data has shifted rate expectations more hawkishly. Japan’s yen moves and possible bond sales are also seen as factors. Derivatives-led positioning and thin spot demand may limit gains.

Crypto

Bitcoin \'Bart Simpson\' pattern resurfaces; break below $75,800 may signal sharp drop

Bitcoin has moved sideways in the $77,000 range after a sharp rise in August, heightening market caution over a potential steep drop. Some analysts say the chart could form a so-called “Bart Simpson” pattern, in which prices surge, trade in a tight range and then quickly return toward the starting point. Traders are focused on $75,800, which could strengthen bearish expectations if broken. Seasonal weakness in September and upcoming Fed policy decisions are also in focus.

Crypto

Bitcoin clears $80,000 after three months as digital asset alliances gather pace

Bitcoin rose above $80,000 for the first time in three months on a weaker dollar, expectations of clearer U.S. digital asset rules and inflows into spot exchange-traded funds. In South Korea, interest is growing over whether renewed debate on a basic digital asset law could lead to institutional changes such as corporate investment and spot ETFs. Financial firms are also accelerating tie-ups spanning banks, brokerages and asset managers.