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      Bitcoin Surpasses $80,000 Following Fed Governor's Comments

      Bitcoin's price rose above $80,000 on Thursday morning, reaching $80,510, a 4.8% increase over the past 24 hours. This surge followed remarks from Federal Reserve Governor Christopher Waller, who indicated support for maintaining current interest rates in September. The price movement comes after a week of volatility, during which Bitcoin had dipped below $78,000 after Fed Chair Kevin Warsh's speech at Jackson Hole.

      Waller's comments, made during a Reuters NEXT newsmaker interview, suggested that his decision on interest rates would be influenced by upcoming inflation data. He noted that while the labor market remains strong, inflation is still above the Federal Reserve's target of 2%. The Consumer Price Index for August is set to be released on September 11, just days before the Federal Open Market Committee meeting.

      In addition to Bitcoin's rise, other cryptocurrencies also saw gains. Ether increased by 4.3% to $2,486.42, while XRP rose 8.8% to $1.45. The total cryptocurrency market capitalization reached $2.74 trillion, with Bitcoin maintaining a dominance of 58.93%.

      Market analysts observed that Bitcoin's resilience amid macroeconomic pressures, including high oil prices and rising Treasury yields, indicates a strong demand foundation. ETF inflows also contributed positively, with U.S. spot Bitcoin ETFs attracting $101.1 million on Wednesday after a series of fluctuations earlier in the week.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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