Bitcoin is currently trading at approximately $77 000, marking a 25% increase from its summer lows. The Federal Open Market Committee is scheduled to meet on September 15–16, with futures markets estimating an 81.5% to 90% probability of a 25-basis-point interest rate hike.
August inflation data showed the Producer Price Index rising 0.4% month-over-month and 5.4% year-over-year. Treasury yields are approaching the 5% threshold, which typically shifts capital away from risk assets like cryptocurrencies toward government bonds.
Open interest in Bitcoin futures fell by 13.5% between September 3 and September 11, decreasing from 321 497 BTC to 278 151 BTC. Additionally, spot Bitcoin ETFs have experienced significant outflows in early September, reversing previous inflow trends.
On September 15, the US Senate is set to vote on the Clarity Act, which proposes new regulatory frameworks for digital assets. Market participants are focused on the Federal Reserve's forward guidance and potential signals regarding future rate adjustments.
