Bitcoin rose 4% on Thursday to move above $80,000 as concerns about a Federal Reserve rate hike eased and Treasury yields declined, raising hopes that it can avoid its historically weak September pattern. The cryptocurrency has recorded negative September returns in nine of the past 15 years, although Fundstrat head of digital assets Sean Farrell said it has avoided a negative September for four years. Bitcoin gained 25% in August, and some strategists believe the crypto bear market may have bottomed or be nearing a bottom. Noelle Acheson, author of Crypto Is Macro Now, said recent price action suggests the crypto winter is close to ending. The August rally was supported by the Treasury Department's intervention in the bond market and assistance to Japan, which helped lift gold and crypto assets. Oil-price gains and hawkish comments from Fed Chairman Kevin Warsh later pressured markets, while Fed governor Christopher Waller indicated he would support unchanged rates if inflation eases. Finality Capital head of liquid investments David Grider said bitcoin could rise into late September or early October after the FOMC (Federal Reserve interest-rate meeting), driven by an unexpected rate hold or sharply lower yields after an initial hike. Analysts still see correction risk, but Bernstein analyst Gautam Chhugani said Treasury intervention could support demand for hard assets such as bitcoin. Chhugani's team has a $150,000 year-end price target. Bitcoin is down roughly 11% year to date and about 38% below its more than $126,000 all-time high reached in early October 2025.