Bitfinex says U.S. Treasury yields may determine whether BTC extends gains

Bitcoin is holding firm near $80,000 even as stronger-than-expected U.S. jobs data has pushed the probability of a September Federal Reserve rate hike above 66%, according to a latest report from crypto exchange Bitfinex. Bitfinex said August U.S. nonfarm payrolls, released last week, rose by 162,000, far above expectations, lifting the likelihood of a September rate hike to above 60%. BTC climbed to $82,320 on Sept. 3 and is now moving sideways in a $77,200-$82,100 range. U.S. spot BTC ETFs saw net inflows of $986.7 million last week, while stablecoin supply continued to increase. Bitfinex said ETF inflows and rising stablecoin supply are supporting BTC prices, but higher short-term Treasury yields are limiting further upside. As a result, sideways trading is likely to continue until BTC clearly breaks above $82,100, the top of its short-term range.