Key Takeaways
CryptoSlate reports Bitcoin faces a key test near its $80,000 resistance as elevated options volatility and Treasury yields surround the upcoming Fed decision.
According to CryptoSlate, Bitcoin reached an intraday high of $79,890 on Sept. 11, failing to break the $80,000-$82,000 resistance zone identified by QCP while US stocks climbed about 1%. The 10-year Treasury yield briefly touched 4.9915%, its highest level in almost three years, and the 30-year reached 5.424%, a 19-year high, before pulling back. August core CPI rose 0.3% on the month, keeping monetary policy central to Bitcoin's setup.
QCP reported that Sept. 12 Bitcoin options expiry carried implied volatility near 46%, compared to 38%-40% across the rest of the curve. Turnover was concentrated in Sept. 12 calls at $78,500 and $80,000, alongside steady demand for $75,000 puts. Markets priced about an 85% probability of a quarter-point Fed rate increase ahead of the Federal Reserve's Sept. 15-16 meeting. CryptoSlate notes that a break above $80,000-$82,000 would strengthen the recovery case, while a drop below the $76,300-$76,500 support zone would weaken consolidation and place greater weight on downside protection around $75,000.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
