Bitcoin Steadies Near $83,700 as Soft PCE Data Eases Fed Rate Hike Fears

August PCE showed headline inflation up 0.3% from July and 3.4% year over year. Core PCE rose just 0.2% on the month and 3% annually. Brendan Ma of the Arbitrum Foundation called the core reading welcome news for the Fed and said a similar September CPI would ease pressure for an October hike. Martin Lee of DWF Labs said positioning could tilt to the upside, noting bitcoin volatility is near yearly lows and options skew is neutral.

Bitcoin Price Outlook and Crypto Market Moves

Bitcoin traded around $84,300, up less than 1% in 24 hours. Analysts point to $80,000 to $82,000 as the key zone. Falling futures leverage looks healthier, but spot demand is weakening. K33’s Vetle Lunde said surging Treasury yields are pushing investors away from risk, even after bitcoin’s highest weekly close since January.

Ether, XRP and Altcoin Profit-Taking

Ether held near $2,700 and is on track for a nearly 70% third-quarter gain. XRP fell about 2% to $1.50 but is set for a quarterly rise above 40%.

Ma said lower rates could cut yields on rolled-over T-bills in tokenized Treasury products, which might push some capital toward higher-returning assets like crypto.