Citigroup delayed its forecast for the Federal Reserve’s first interest-rate cut to June 2027 from October 2026 after August payrolls exceeded expectations and earlier employment figures were revised higher. The Fed raised its benchmark rate by 25 basis points on Sept. 16 to a 3.75%-4% target range, with 16 of 18 officials projecting at least one more increase by the end of 2026. Bitcoin initially fell below $80,000 and later neared $75,000 as rate-hike expectations rose, but recovered above $86,000 and briefly touched $87,000. US spot Bitcoin ETFs recorded $433 million in net inflows on Sept. 18, while easing Treasury yields and short covering supported the rebound.