U.S. Econ Data Could Decide Bitcoin Breakout Past $80,000

Dow Jones09-01 14:34

0634 GMT - Where Bitcoin heads next rests heavily on whether incoming U.S. economic data confirm or weaken a higher-rate environment, says Naeem Aslam, CIO at Zaye Capital Markets. Bitcoin is struggling to make a clean break above $80,000, caught between renewed institutional accumulation and a much tougher interest-rate backdrop. Strong manufacturing or jobs figures would strengthen the case for tighter monetary policy, potentially keeping yields high and making a breakout above $80,000 more difficult, he says. Cooling factory prices or weaker labor demand could reduce rate pressure and allow corporate buying, ETF demand and the strategic-reserve narrative to regain control. After an about 24% gain in August and a rebound in institutional demand, resistance near $80,000 remains a critical test. Bitcoin flat at $78,856, LSEG data show.

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