Bitcoin traded back above $80,000 on Thursday morning after Fed Governor Christopher Waller said he could support holding rates steady in September, unwinding a week in which traders had made an increase the favorite.
The repricing runs directly against the positioning that followed Chair Kevin Warsh's Jackson Hole speech on Aug. 28, which pushed bitcoin below $78,000 and made a September increase the favorite over the following sessions. Gold, equities and Treasuries all moved the same way Thursday. Bitcoin moved furthest.
Bitcoin last changed hands at $80,510, up 4.8% over 24 hours and 1.1% over seven days, after ranging between $76,858.60 and $80,847.07, CoinGecko data shows. Ether was at $2,486.42, up 4.3% on the day and down 0.5% on the week. XRP added 8.8% to $1.45, Solana 5.9% to $104.48 and BNB 5.1% to $718.99. Total crypto market value stood at $2.74 trillion on $76.33 billion of volume, with bitcoin dominance at 58.93%, according to CoinGecko, against $2.67 trillion on Wednesday morning.
Waller set out the condition in an appearance at a Reuters NEXT newsmaker interview in Washington on Thursday, in remarks the Fed published under the title "The Economic Outlook and Some Comments on My Policy Communication."
