Bitcoin price today was up and trading in green. BTC price on Saturday was USD 84,030.08, up by 0.30 per cent. This comes as U.S. spot Bitcoin ETFs (exchange-traded funds) witnessed net inflows of USD 2.39 billion this week. Ether (ETH) price was USD 2,689.71, and XRP price was down at USD 1.55.
Bitcoin bulls are back after months of gloom, but a Federal Reserve rate decision this week will test that optimism, even as a key Senate vote on crypto legislation could provide a surprise tailwind.
After languishing for months at two-year lows of around $60,000, the world's largest cryptocurrency in late August staged a rebound past $70,000 as surging Treasury yields briefly retreated and broader sentiment improved. The rally marked a sharp turnaround for bitcoin, which had slumped roughly 50% from its October 2025 peak of above $126,000.
Bitcoin Price to Hit New Highs?
Although traders are assigning almost no chance of bitcoin rescaling the peak of above $126,000, the bitcoin options market has flipped bullish for the first time in 12 months, according to data from options platform Derive.xyz, with many traders betting bitcoin could hit $80,000 or higher by December.
Open interest for the December 25 expiry is clustered at the $80,000 strike, with about $710 million in notional value, and at $100,000, with roughly $530 million, according to Derive.xyz.
Bitcoin Price Prediction
Bitcoin exchange-traded funds, which have institutional as well as retail investors, have also shown signs of renewed demand, with inflows reaching nearly $2 billion the week of August 17, after eight straight weeks of outflows in May and June.
An indication from Fed Chair Kevin Warsh that a rate hike would be a one-off rather than the start of a hiking cycle could be one such upside surprise, Ferraioli said. Warsh has so far resisted committing the Fed to any set rate path, analysts said.
Still, it is unlikely that a hike of any kind would be immediately seen as a positive for bitcoin and other speculative assets, said Joseph Edwards, an independent financial researcher. "It would likely put a damper on the recent rally."
Under President Donald Trump's crypto-friendly administration, policy surprises offer another potential bitcoin boost.
The market has likely priced in that the U.S. Clarity Act, a key crypto bill, will not pass amid delays and continued opposition from many senators, said Can-Luca Köymen, investment strategist at Switzerland-based digital asset bank Sygnum.
The bill would address what the industry says is legal ambiguity by defining which tokens qualify as securities versus commodities, potentially boosting adoption. The U.S. Senate is set to take a procedural vote on the bill on Tuesday, which could ultimately determine its fate.
