Bitcoin slips 0.8% to $80,848 after touching $82,164, its highest since May, as Federal Reserve Governor Christopher Waller's dovish rate-stance comment weakens the dollar and keeps crypto traders focused on Fed policy.
Bitcoin hit $82,164 overnight, its highest since May, before slipping 0.8% to $80,848. The initial rally followed Waller's signal that he would support holding rates steady if inflation improves, which weakened the dollar and boosted crypto; the later retreat points to profit-taking after the sharp move.
Bitcoin fell 0.8% to $80,848 after touching $82,164 overnight. The pullback appears to be profit-taking after the Fed-driven surge to a three-month high.
Waller signaled he would vote to keep rates on hold if inflation keeps improving. That weakened the dollar and supported Bitcoin's overnight move toward $82,000.
The next leg hinges on Fed policy expectations and the dollar. Continued dollar weakness and a dovish Fed would provide support, while hawkish surprises could weigh on Bitcoin.
Waller's comments that he would vote for rates to stay on hold if inflation improves pressured the dollar. The article explicitly links Bitcoin's overnight surge to dollar weakness, leaving DXY exposed to further downside if Fed cut bets firm.
Waller said he would vote for rates to stay on hold if inflation continues to improve, a stance markets viewed as dovish and therefore bearish for the dollar.
A surprise pickup in inflation or stronger-than-expected economic data would likely revive expectations for tighter Fed policy and support the dollar.
Bitcoin retreated to $80,848, down 0.8%, after touching $82,164 overnight, its highest level since May. Federal Reserve Governor Christopher Waller's comment that he would vote for rates to stay on hold if inflation improves weakened the dollar and fueled the initial surge. The pullback reflects profit-taking after the sharp move, with Fed policy and USD direction set to drive the next leg.
Federal Reserve Governor Christopher Waller said he would vote for rates to stay on hold if inflation continues to improve. The comment weakened the dollar and helped Bitcoin accelerate to $82,164 overnight.
Bitcoin slipped 0.8% to $80,848 after reaching $82,164 overnight, according to LSEG data.
Fed policy expectations drive the dollar and broader risk appetite. Dovish signals tend to support Bitcoin, while hawkish surprises often weigh on crypto assets.