Bitcoin recovers above $80K on September 3. The asset extended its recovery after Federal Reserve Governor Christopher Waller cooled expectations for a September rate hike.
BTC traded near $80,840 at the time of writing. It was up approximately 4.5% from its daily opening price of $77,340. The asset traded between $76,968 and $81,370 during the session.
Why Bitcoin recovers above $80K
The move reversed much of the weakness seen earlier in the week. It returned Bitcoin to the resistance area that stopped its August rally. Buyers must now turn the $80,000–$81,400 region into support. This would confirm that the breakout can continue.
Bitcoin accelerated higher after Waller’s comments. He said he was inclined to keep interest rates unchanged at the September 15–16 meeting. This applies if incoming inflation data confirms that price pressures are easing.
Waller did not rule out another increase. He said a hike could still be appropriate if inflation accelerates. The August consumer price index report due September 11 is an important input for the decision.
Interest-rate futures reduced the probability of a September increase. Two-year and ten-year Treasury yields declined. The dollar also weakened. This created a more supportive environment for Bitcoin and other assets sensitive to U.S. liquidity conditions.
Corporate demand provided additional support to the broader Bitcoin narrative. Strive CEO Matt Cole said the company could purchase more than 20,000 BTC before year-end. This describes a potential acquisition rather than a completed purchase.
Strive disclosed earlier this week that it had bought 1,800 BTC. The average price was $79,431. This lifted its holdings to 23,156 BTC.
France-listed Capital B separately raised €7.6 million from Blockstream CEO Adam Back. This was through a private placement. The company said the net proceeds could fund the acquisition of up to 376 additional BTC.
Bitcoin price reaches a major daily resistance zone
The daily chart shows Bitcoin retesting the area between $81,000 and $82,500. This capped several advances in May and August. A daily close above that band would improve the chances of a move toward $83,450. $85,000 would follow.
Analyst Franklin said Bitcoin was testing a falling-wedge breakout. He identified $83,450 as the next level to watch if buyers defend the breakout. Falling wedges can precede upside moves. The target remains conditional until price closes above nearby resistance.
Momentum has strengthened quickly. The daily RSI stands at 72.31. This is above the 70 level normally associated with overbought conditions. Its moving average is even higher at 75.50.
An overbought RSI does not guarantee an immediate reversal. This is especially true during a strong breakout. Nevertheless, it raises the risk of profit-taking if Bitcoin fails to establish support above $80,000.
BTC remains well above all four moving averages shown on the daily chart. The 20-day SMA sits at $74,775. The 50-day SMA is at $68,489. The 200-day SMA is at $69,602. The 100-day SMA is at $66,334.
The rising 20-day average gives bulls a clear medium-term advantage. Nevertheless, the large gap between the price and that average shows how far Bitcoin has moved in a short period.
4-hour Bollinger Bands signal rising volatility
The 4-hour chart shows Bitcoin breaking above the upper Bollinger Band at approximately $80,422. The price is near $80,845. The middle band lies at $78,174. The lower band sits near $75,927.
Trading above the upper band confirms strong upside pressure. It can also indicate that price is temporarily stretched. The Bollinger Band width reading has expanded to about 5,040. This reflects a sharp increase in volatility.
The $80,400 area is the first short-term level buyers need to protect. A successful retest could allow BTC to challenge $81,370 again. It could then attempt a move toward $82,000 and $83,450.
Failure to hold the breakout would place the 4-hour middle band near $78,175 back in focus. Below it, the $76,000–$76,500 region represents a deeper support area. It sits close to both the lower Bollinger Band and the session’s earlier low.
Liquidation map puts $81,500 in focus
CoinGlass’ 24-hour liquidation heatmap shows Bitcoin climbed through several short-liquidation clusters. These were between $78,000 and $80,500. Forced buying from traders closing bearish positions may have increased the speed of the advance.
The largest nearby liquidity concentration above the market appears around $81,300–$81,600. A clean break through that zone could draw price toward smaller clusters near $82,000 and $84,000.
Downside liquidity remains concentrated around $79,700, $78,000, and $76,400–$76,700. If buyers lose $80,000, those clusters could attract price during a pullback.
Bitcoin’s next move will depend on whether spot demand can sustain the rally after the initial short squeeze. A close above $81,400 would strengthen the bullish breakout case. Rejection followed by a loss of $80,000 would leave the market vulnerable to a return toward $78,200.
