Bitcoin faces $86,000 resistance as September Fed hike odds near 60%

  • Bitcoin enters the week facing a key resistance zone between about $81,000 and $86,000.
  • Glassnode identifies 1.05 million BTC held by long-term holders with a $83,000-$86,000 cost basis, while BTC recently traded near $79,000.
  • CME FedWatch showed nearly 60% odds of a 0.25% September Fed hike, as employment data, oil prices and diverging investor flows offered additional market tests.

Bitcoin is entering a week defined by four market tests: resistance between $81,000 and $86,000, rising expectations for a 0.25% Federal Reserve rate increase in September, US employment data and oil-price volatility linked to US-Iran tensions. Glassnode says long-term holders have a cost basis for 1.05 million BTC in the $83,000-$86,000 zone, while BTC recently traded near $79,000 and briefly fell below its 50-week exponential moving average at $77,269. CME Group’s FedWatch Tool showed rate-hike odds approaching 60%, up from 41.4% a week earlier. CryptoQuant reported that wallets holding at least 100 BTC added about 60,000 BTC from Aug. 1 through Aug. 30, while wallets holding 1-100 BTC and less than 1 BTC sold about 33,000 BTC and 14,000 BTC, respectively.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.