Bitcoin Holds Firm as $2 Billion Cash Surge Reduces Leverage

Bitcoin showed resilience after US inflation data kept interest-rate concerns in focus. July’s personal consumption expenditures reading, released on Aug. 26, held at 3.7% year over year, while core PCE stood at 3.3%. Both measures remained above the Federal Reserve’s target. Following the report, futures markets raised the implied probability of a September rate hike to roughly 44%, compared with 36% before the release. Despite the shift in rate expectations, Bitcoin reached an intraday high of $79,251.60 on Aug. 26 and was trading near $78,000, according to CryptoSlate. The report linked the cryptocurrency’s relative strength to a $2 billion cash surge that removed speculative leverage from the market. The move suggests Bitcoin’s price held up even as traders reassessed the outlook for US monetary policy.