Bitcoin Slips Below $83,000 as Macro Risks, Fed Rate Hikes Overshadow ETF Inflows

Bitcoin fell as much as 2.3% to $82,568 on Sept. 28 before paring losses, remaining below $83,000 in New York morning trading, as macroeconomic uncertainty weighed on risk assets. Ether dropped 1.9% and Solana slid 3.9%. The pullback follows a rally that briefly pushed Bitcoin above $87,000 last week, its highest since January. President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, lifting oil and pressuring equities and bonds. Markets are also digesting the Federal Reserve's rate hike earlier this month, with traders pricing a meaningful chance of another increase in October. Despite the retreat, US spot Bitcoin ETFs drew about $2.4 billion in the week ended Sept. 25, their largest weekly inflow since October. Bitcoin has gained roughly 28% since Aug. 19 and is on track for its best quarter since Q4 2024. "It's likely the broader macro environment needs to be favorable" for Bitcoin to break 2026 highs, said Damien Loh of Ericsenz Capital.