Sept 4: Bitcoin Broke $80K, But I’m Still Waiting for $82,800

Bitcoin briefly reached roughly $81,900 after spot Bitcoin ETFs attracted approximately $731 million in a single day, Treasury yields eased, and Fed Governor Christopher Waller suggested rates could potentially remain unchanged in September. Matt remains cautious, however, because Bitcoin still hasn't cleared the more important resistance around $82,800. A sustained break there could put $90,000 in play, while roughly $75,700 and $71,000 remain the downside levels he's watching. 

Bitcoin's rally also sent crypto-adjacent stocks sharply higher, including Coinbase, Robinhood, Strategy and Circle, reinforcing Matt's view that these companies can outperform when Bitcoin enters a strong bull move. But the volatility hasn't disappeared: while Matt was preparing the show, Bitcoin fell from above $81,000 toward $79,200 in roughly an hour. With leverage relatively low and ETF demand strong, the setup has improved, but Matt still wants Bitcoin to prove the breakout before declaring the sideways market finished. 

Happy HODLing

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