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Bitcoin extends decline below $79,000
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Bitcoin extends decline below $79,000
Economies.com
2026-09-08 12:00 UTC
Bitcoin (BTC) extended its decline to trade below $78,900 at the time of writing on Tuesday, after losing 1.53% in the previous session. Analysts believe Bitcoin’s outlook remains positive but has yet to reach a decisive stage, keeping US inflation data due on Friday firmly in focus. Meanwhile, escalating tensions between the United States and Iran are increasing concerns over energy supplies and renewed inflationary pressures, potentially raising the likelihood of tighter Federal Reserve monetary policy and weighing on Bitcoin.
US inflation could prove decisive for Bitcoin
QCP Capital said in a report released on Monday that US inflation data could be the decisive factor for cryptocurrency markets this week.
“For crypto, the picture remains constructive, but the direction has yet to be decided,” QCP Capital said.
Strong demand for exchange-traded funds (ETFs) continues to provide support for the market, but technical resistance in the $80,000 to $82,000 range remains a constraint on gains. Low volatility and the wait for fresh catalysts suggest the market is preparing for a decisive directional move once the inflation data are released.
A QCP Capital analyst noted that the stronger-than-expected US jobs report for August does not by itself determine the Federal Reserve’s policy path, but instead shifts the focus toward inflation. If Friday’s US Consumer Price Index (CPI) data confirm that inflation continues to ease toward the central bank’s 2% target, the case for leaving interest rates unchanged could strengthen. A renewed rise in price pressures, however, could reinforce the case for further monetary tightening.
For cryptocurrency markets, the implications are direct, as the inflation data are likely to determine whether current trading ranges persist or whether a directional repricing accelerates.
Similarly, Bitfinex maintains a positive outlook on Bitcoin but believes the conditions required for a sustained breakout are not yet in place.
“Our outlook on Bitcoin remains positive, but the conditions needed for a sustained move higher have not yet materialized,” Bitfinex analysts said. “ETF inflows and stablecoin growth continue to provide support, while the Federal Reserve outlook and elevated Treasury yields remain constraining factors.”
According to Bitfinex, softer inflation data on Friday could reopen the door to the Federal Reserve leaving interest rates unchanged in September, while evidence of persistent inflation would strengthen the case for a rate hike.
The clearest sign of improving market strength would be a sustained breakout from the current price range, accompanied by continued positive capital inflows while interest rate expectations remain elevated. Until then, the evidence points to an ongoing accumulation phase with an upward bias rather than confirmation of an actual breakout.
Escalating Middle East tensions raise energy supply and inflation concerns
Iran threatened on Monday to retaliate against any new US attacks targeting its assets, warning that energy infrastructure across the Gulf region, including US oil and gas interests, remains vulnerable to attack.
“Strike our assets, and you will be struck,” Iranian Parliament Speaker Mohammad Bagher Ghalibaf said, following US and Iranian strikes targeting vessels over the weekend that pushed oil prices close to their highest levels in around six weeks on Monday.
The latest threat underscores the risk of further escalation after the two sides resumed exchanging attacks over the weekend, with no signs of progress toward a diplomatic breakthrough that could end more than six months of conflict and restore normal energy flows through the Gulf.
Adding to concerns, Iran’s security chief Mohsen Rezaei said Tehran was preparing to impose a full blockade around the Strait of Hormuz in response to economic sanctions, heightening fears that oil supply disruptions could persist for an extended period.
The developments have broadened the confrontation between the United States and Iran and kept the geopolitical risk premium elevated, supporting crude oil prices.
Higher energy prices could reignite inflationary pressures, strengthening the case for tighter Federal Reserve monetary policy. That could weaken investor appetite for risk assets and add further pressure on Bitcoin.
Oil extends gains after Houthi attacks on Saudi energy facilities
Economies.com
2026-09-08 11:50 UTC
Oil prices rose on Tuesday, reaching their highest levels in more than three months after Iran-backed Houthis launched attacks on energy facilities in Saudi Arabia, while Tehran threatened the United States with an “economic war.”
Gold rises on weaker US dollar
Economies.com
2026-09-08 09:11 UTC
Gold prices rose in European trading on Tuesday, heading for their first gain in three days as buying picked up around the $4,400-an-ounce level, supported by the US dollar’s decline to a three-week low against a basket of global currencies.
Euro holds gains on European interest rate hopes
Economies.com
2026-09-08 07:37 UTC
The euro rose against a basket of global currencies in European trading on Tuesday, holding gains against the US dollar for a second consecutive day as it benefited from weakness in the US currency ahead of key US inflation data.
Source: www.economies.com