Bitcoin Rises to $81,491 as Crypto Markets React Positively to Fed's Rate Pause
On Sept. 3, Bitcoin (BTC) climbed over 5% to reach $81,491 after the Federal Reserve signaled a potential pause in rate hikes, which boosted risk appetite across crypto markets. Ethereum and Solana also saw gains of around 5%, while the total market cap rose by nearly 5%. Fed Governor Christopher Waller indicated support for maintaining current interest rates unless inflation data changes dramatically. The rally was supported by inflows into Bitcoin ETFs, with iShares Bitcoin Trust (IBIT) leading net inflows. However, Ethereum ETFs saw a pause in their winning streak of inflows. Despite the recent gains, crypto prices remain sensitive to macroeconomic factors such as bond yields and inflation expectations. Bitcoin has surged nearly 27% over the past month, with investor sentiment shifting from fear to greed according to market indicators. While optimism is growing among long-term investors, near-term volatility remains a risk due to ongoing economic uncertainties.
Topics: Bitcoin Crypto ETFs Ethereum Federal Reserve Policy Solana