Bitcoin Price Smashes Back Through $80,000: Here Is What Just Set It Off

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin price surged to $80,477 in a matter of hours after a dovish Fed signal crushed rate hike bets. Here is the chart and the real driver.Bitcoin just went vertical. After spending the entire session glued to the $77,200 to $78,000 zone, $BTC ripped through $80,000 and printed an intraday high of $80,477, trading at $80,301 at the time of writing. That is a gain of roughly $2,400, or 3.07%, against a previous close of $77,302.BTC Price TodayThe move was not a slow grind. It was a near straight line from lunchtime onwards, and it came with a very specific catalyst attached.Why Did the Bitcoin Price Jump Above $80,000 Today?The trigger came from Washington, not from crypto.Federal Reserve Governor Christopher Waller told a Reuters event on Thursday that he is inclined to support leaving interest rates unchanged at the September 15 to 16 meeting, provided August inflation data confirms that price pressures are still cooling. Waller pointed out that the three-month rate on the Fe...