Bitcoin Price Rises Despite US Inflation Data; Satoshi-Era Wallet Moves 600 BTC

Bitcoin's price experienced a notable increase on Friday, reaching close to $79,607, despite the release of data indicating a rise in U.S. inflation. The cryptocurrency saw a 2% jump over a 24-hour period, following news that U.S. consumer prices accelerated in August, raising expectations for an interest rate hike by the Federal Reserve next week.

The consumer price index, excluding food and energy, rose by 0.3% in August, surpassing analysts' expectations. This inflationary pressure is attributed to various factors, including the ongoing war with Iran, which has contributed to higher oil prices, subsequently increasing the costs of food and gasoline.

Market analysts note that higher inflation typically leads the Federal Reserve to raise interest rates, which could hinder Bitcoin's price growth. Current projections indicate an 85% likelihood of an interest rate increase at the upcoming Federal Reserve meeting.

In a separate development, a Bitcoin wallet from the Satoshi era, dating back to 2010, moved 600 BTC after remaining inactive for over 16 years. This transfer, valued at approximately $47.7 million, drew attention as it reflects one of the market's key on-chain signals: the awakening of old coins.

The 600 BTC was consolidated into two Native SegWit addresses, with no confirmed movement to centralized exchange wallets, suggesting that the coins may not be immediately sold. Such movements are often scrutinized as they can indicate changes in holder sentiment, but without further transfers to known exchange wallets, it remains unclear whether this is a precursor to selling.

Overall, the combination of rising Bitcoin prices amid inflation concerns and significant movements of dormant coins underscores the complex dynamics at play in the cryptocurrency market.

New Facts

• The Breakwave Tanker Shipping ETF (BWET) has risen 5,100% over the past year, making it the best-performing ETF in America.
• BWET has gained 3,600% since January 1, 2026, due to military conflicts and logistical threats affecting oil transportation.
• The fund's net asset value has increased from $2 million to $200 million in 2026.
• As of March 2, 2026, the benchmark Gulf-to-China supertanker rate reached a record daily rate of $423,736, doubling within two days.
• BWET is primarily composed of near-dated freight futures, with about 90% tied to the Middle East-to-China supertanker route.
• BWET's performance is heavily influenced by the ongoing war in Iran and its impact on oil shipping rates.
• The ETF's sponsor, Amplify, charges a 3.5% expense ratio for managing the fund.

Latest Insights on Bitcoin

Bitcoin (BTC) is currently maintaining its position above significant levels, even in light of robust US payroll data that has increased the likelihood of Federal Reserve rate hikes. Recent reports indicate that August payrolls came in at 162,000, surpassing the 53,000 consensus, which has raised the odds of a rate hike in September to nearly 60%.

Last week, Bitcoin peaked at $82,400 before retracting, ultimately closing above $80,000, marking a 3.45% increase. Additionally, Bitcoin exchange-traded funds (ETFs) saw inflows of $987 million for the third consecutive week, bringing the total to nearly $3.8 billion during this period. Ethereum ETFs also experienced a rise, with $215 million in inflows.

Wintermute notes a trend where investor capital is shifting from exhausted equities and consolidating gold into Bitcoin and Ethereum. The firm suggests that the current market dynamics indicate a potential new cycle for crypto, as the capital that exited gold and stagnant equities is now flowing into BTC and ETH.

Bitcoin's current drawdown of approximately 50% from its peak is notably less severe than the 75%+ declines observed in 2018 and 2022 at similar stages, which aligns with increased institutional involvement through ETFs. The market breadth is improving, with profits from one group of investors supporting the next, a typical sign of a developing cycle.

However, caution is advised; a significant drop below $72,000, coupled with negative ETF outflows, could signal a shift in market sentiment, especially if inflation data pushes rate hike odds above 70%.