Bitcoin is holding above $75,000 despite rising rate-hike expectations. US August inflation came in at 3.4%, well above the Fed’s 2% target, with Bank of America pricing in a 75-basis-point hike ahead of the next FOMC meeting. A whale spent $85.42 million in USDC to buy 1,075.6 BTC at an average price of $79,412 over the last four days, while whale accumulation has picked up since July when Bitcoin dipped to around $57,000 before rallying 35%. Bitcoin’s Long/Short Ratio dropped to 0.79, its lowest in over a month, signaling growing bearish positioning that could reverse if Bitcoin continues to hold, potentially forming a textbook bear trap.
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