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Bitcoin Climbs Above $80,500 as Fed Rate Hike Bets Ease

Bitcoin Climbs Above $80,500 as Fed Rate Hike Bets Ease

Bitcoin’s rebound comes as softer rate expectations improve sentiment across risk assets.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 4 September 2026 13:43 IST

Bitcoin Climbs Above $80,500 as Fed Rate Hike Bets Ease

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Traders assess renewed momentum and shifting market conditions

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Highlights

Bitcoin’s correlation with gold reaches its highest level since 2020
ETF demand continues to provide support despite uneven flows
Analysts advise staggered purchases and low leverage amid volatility

Bitcoin traded near Rs. 76.3 lakh on Friday as the cryptocurrency market gained momentum after expectations of a September Federal Reserve rate hike eased. Ethereum (ETH) was trading near Rs. 2.36 lakh, while major altcoins also moved higher. According to market participants, softer rate expectations have brought buyers back into risk assets, with Bitcoin also receiving support from US spot Bitcoin ETF inflows and Strategy returning to the market as a buyer. As per data by CoinGecko, Bitcoin traded near $80,800 (roughly Rs. 76.3 lakh), and Ethereum was trading near $2,500 (roughly Rs. 2.36 lakh).

The world's largest cryptocurrency witnessed a growth of 4 percent in the last 24 hours, as per the Gadgets 360 price tracker. Analysts said Bitcoin's recovery has been driven largely by a change in interest-rate expectations, with the probability of a September Fed rate hike falling from above 63 percent to around 50-55 percent. Lower rate expectations have eased pressure on bond yields, while ETF inflows have provided additional support.

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Major altcoins traded with mixed momentum on Friday.

Binance Coin (BNB) was priced around $723.91 (roughly Rs. 68,395), while Solana (SOL) traded near $103.74 (roughly Rs. 9,801). XRP hovered around $1.45 (roughly Rs. 137), while Dogecoin (DOGE) was trading close to $0.0869 (roughly Rs. 8.21).

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Traders Watch Resistance After Bitcoin's Sharp Rebound

Pointing to Bitcoin's rebound above $80,800 (roughly Rs. 76.3 lakh), Prateek Gupta, Head of Business, Mudrex, said, “With this, September hike odds fell 12 percentage points to 54.6 percent, while a weaker dollar improved demand for risk assets. Bitcoin is also moving more closely with gold, with their correlation at its highest since 2020. However, six straight days of unusually extreme fund flows have historically been followed by volatility.”

Assessing Bitcoin's recovery and the changing interest-rate outlook, Vikram Subburaj, CEO, Giottus.com, said, “The recovery began after the probability of a US rate increase in September fell from above 63 percent to around 50 percent. Lower rate expectations eased pressure on bond yields and brought buyers back into risk assets. ETF demand has also provided support, although the flows remain uneven [...] Investors should avoid chasing the market after a sharp daily rise [...] Those entering now should use staggered purchases and keep leverage low.”

Overall, analysts said the shift in rate expectations has helped bring buyers back into risk assets, while Bitcoin's stronger correlation with gold has also been highlighted as a notable development. Analysts recommended avoiding aggressive moves and waiting for confirmation, particularly a sustained close above $83,300 (roughly Rs. 78.7 lakh).

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Cryptocurrency, Crypto markets, Crypto Prices, BTC, ETH

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More