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Source: Newsmaker.id
Bitcoin traded around US$77,900 on Tuesday (Sept 1), down approximately 0.9% within a daily range of US$77,528–US$79,225. The largest cryptocurrency has retained most of its nearly 25% gain from August but remains constrained by expectations of high interest rates and US-Iran tensions. Bitcoin Price
Strategy added another 4,603 Bitcoin at an average price of US$80,318 per coin, valued at approximately US$370 million. This purchase raised the company's holdings to 845,050 Bitcoin, with an average accumulation price of around US$75,412 per coin. Bitcoin Ledger Strategy
Primary pressure stems from the hawkish stance of Federal Reserve Chair Kevin Warsh. He noted that annual PCE inflation remains at 3.7%, while the six-month rate has reached 4.1%—well above the 2% target. These conditions keep the possibility of a September rate hike alive and dampen the appeal of risk assets like Bitcoin. Kevin Warsh Speech
JOLTS data shows US job openings remained relatively stable at around 7.3 million in July, while the June figure was revised down to 7.2 million. The labor market is cooling but not yet weak enough to eliminate inflation concerns. Meanwhile, the US-Iran conflict and shipping disruptions in the Strait of Hormuz have driven up oil prices, heightening the risk of stagflation. US JOLTS Data
According to Newsmaker's analysis, Strategy's purchase provides fundamental support by demonstrating continued strong corporate demand. However, Bitcoin remains vulnerable as long as the price stays below US$80,000, bond yields remain high, and the Fed maintains its hawkish stance. Weakness in upcoming labor data could pave the way for a recovery, though spikes in oil prices and inflation threaten to prolong the pressure. (arl)
Source: Newsmaker.id