BTC hit $80,000 again after Fed Governor Waller said he may support holding rates at the next FOMC meeting.
Bitcoin has recovered ground above $80,000 today, September 3, rising from the mid-$77,000s this morning to an intraday high above $81,000 at the time of writing.
What’s the scoop?
- The catalyst: Fed Governor Christopher Waller indicated he would support maintaining inflation at the mid-September meeting, provided next week’s August inflation numbers remain in the right direction. Those comments lowered the odds for an increase after a hawkish speech by President Kevin Warsh in Jackson Hole put a September increase in play.
- The band: Bitcoin gained around 5% on the day. Gold also rose while the dollar fell and the 10-year yield eased from its recent multi-year highs near 4.82%.
- Flow : U.S. spot bitcoin ETFs saw net inflows of $101 million on Wednesday, led by BlackRock’s IBIT, following an outflow of $236 million the previous session. Last week, Strategy also made its first bitcoin purchase since June 2026.
- The configuration: Inflation is still above the Fed’s 2% target, oil remains high amid ongoing US-Iran tensions, and September is historically a weak month for BTC. The next big tests coming up are Friday’s jobs report, September 11 CPI, and the FOMC.
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