Bitcoin holds near $78,000 ahead of Fed decision as market prices 90% odds of a hike
- —BTC trades at $78,626, down 0.8% over the day, two weeks in a $76,000–78,000 range
- —The probability of a 25 bps rate hike on September 16 has risen to 90%
- —The August peak was $81,200, with the pullback from the high at about 3%
- —If the Fed tightens, analysts see BTC potentially falling to $70,000
Why it matters: The Fed's September 16 decision will set short-term direction: a rate hike would increase pressure on risk assets and could send BTC to $70,000.
Source: ZyCrypto