Bitcoin Rejected at $85K as Macro Pressure Mounts and FOMC Looms: Weekly Crypto Recap

Bitcoin climbed to almost $85,000 on Wednesday, its first move to that level in two weeks, before being rejected and falling by more than $4,000 within about a day. It was around $81,340 on Friday, down 0.37% for the week. The prior week ended with a drop below $80,000 for the first time in a month after CPI and PPI data showed inflation remained a concern. Oil rose above $100 per barrel after US President Donald Trump threatened possible strikes on Iran. Investors are now focused on next week’s Federal Open Market Committee meeting, where consensus expects no interest-rate change.