Bitcoin Reclaims $81,000 as Fed Rate Pause Boosts Crypto Markets
On September 3, Bitcoin (BTC) rose over 5%, reclaiming the $81,000 level for the first time since May. Ethereum and Solana also saw strong gains of around 4.9% and 5.5%, respectively. The total crypto market cap increased by nearly 5% to $2.82 trillion as risk appetite returned in response to a perceived pause in Federal Reserve rate hikes. The rally was supported by comments from Fed Governor Christopher Waller, who indicated support for maintaining current interest rates unless inflation data changes dramatically. Spot Bitcoin ETFs saw inflows of around $101 million led by the iShares Bitcoin Trust (IBIT), while Ethereum ETFs ended a 12-day winning streak but may see renewed institutional demand. Bitcoin has gained nearly 27% in one month, with investor sentiment shifting from extreme fear to greed. However, macroeconomic factors like inflation and geopolitical tensions remain risks for the market.
Topics: Bitcoin crypto market cap Ethereum Federal Reserve policy Solana