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Crypto Market Today, Sept. 8: Bitcoin Slides as Fed Hike Odds Pass 60%
As of early evening on Sept. 8, Bitcoin (CRYPTO:BTC) fell 0.9% to $78,475.12, Ethereum (CRYPTO:ETH) fell 0.1% to $2,484.36, and Solana (CRYPTO:SOL) fell 0.6% to $103.37.
What’s driving crypto markets
Macro caution set the tone today, as fears of Federal Reserve rate hikes and rising oil prices pressured both equities and cryptocurrencies. A hack on the Liquid Network, a layer-2 blockchain that’s designed to improve processing and settlement speed, put Bitcoin under additional pressure.
Crypto ETF snapshot
Spot Bitcoin ETFs saw positive inflows at the end of last week, with the iShares Bitcoin Trust ETF (IBIT) gaining over $117 million in net funds on Friday. However, U.S. stock markets were closed yesterday, so we won’t get a clear picture of crypto ETF activity until tomorrow.
What this means for investors
Last week, Bitcoin reclaimed the important psychological mark of $80,000, as it benefited from concerns about dollar weakness. Although it couldn’t hold it, the lead cryptocurrency is still up over 20% in the past month.
Investor attention is now firmly on the Fed and its meeting later this month, because higher rates tend to weigh on riskier assets like crypto. The CME FedWatch tool, which tracks trader rate views, puts the possibility of a rate increase at over 60%. That’s making investors nervous, but it is important to view these near-term economic shifts in the context of Bitcoin’s potential in the coming decade or more.
Unlike other major cryptos, Ethereum only edged slightly downward. This could be because the Ethereum Foundation announced yesterday that it would prioritize quantum readiness. Further buying from Bitmine Immersion Technologiesalso boosted the second-biggest crypto.
Top 10 crypto performance
Ranked by market cap. Price and 24-hour change for BTC, ETH and SOL: FMP, the same figures used in the text above. All other figures: CoinGecko, as of September 08, 2026 20:17 UTC.
Should you buy stock in Bitcoin right now?
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Source: finance.yahoo.com