Bitcoin retreats from $82,000 resistance as rate-hike bets pressure crypto

Bitcoin retreated after failing to decisively clear the $80,000-$82,000 resistance zone, trading around $79,820 and up 1.3% over 24 hours after reaching $81,282. The pullback followed an earlier move above $80,000 for the first time since May and came as traders reassessed Federal Reserve interest-rate hike odds and reduced exposure to liquidity-sensitive assets. An earlier Aug. 27 report placed Bitcoin below $79,000, with XRP the biggest decliner among major tokens. Bitcoin gained roughly 28% in August, according to CoinGecko data, amid fiscal-policy concerns and the debasement trade. Veteran trader Peter Brandt said he remains long Bitcoin after buying BTC when an inverse head-and-shoulders pattern completed, while warning he can exit positions on a day’s notice. A break above $82,000 could strengthen the bullish case, while another rejection could leave Bitcoin and higher-beta altcoins vulnerable.

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