Overview:

• Bitcoin trades near USD 78,970, up 0.4% on the day, holding just under the USD 80,000 mark.

• US-Iran tensions kept oil elevated, with Friday's CPI report now the market's key catalyst.

• Zcash jumped 9.9% in 24 hours, extending a rally built on new ETF demand.

Bitcoin traded near USD 78,970 heading into today's session, sitting just below the USD 80,000 mark. Oil prices stayed elevated after fresh US-Iran military exchanges over the weekend. Traders held cautious positions ahead of Friday's US Consumer Price Index release.

Ethereum and Solana posted modest gains alongside Bitcoin through the session. Zcash again outpaced the broader market, extending its multi-week climb on ETF demand. Total crypto market capitalization stayed close to USD 2.68 trillion, little changed from Tuesday.

Bitcoin Price Today

Bitcoin traded at USD 78,970.89, up 0.4% over the past 24 hours, per live CoinGecko data. Its market capitalization stood at USD 1.59 trillion. Trading volume over 24 hours reached USD 37.68 billion. Bitcoin has gained 2.1% over the past seven days.

Below is today's Daily Quote roundup from leading crypto market analysts on Bitcoin's near-term structure.

Mudrex: Profit Supply Stays Elevated 

Mudrex Head of Business Prateek Gupta said Bitcoin traded near USD 78,500 after briefly slipping to USD 77,600. Rising crude prices pressured broader risk assets through the session. He noted 71% of Bitcoin's supply still sits in profit. Gupta named USD 77,500 as the level Bitcoin must defend this week.

CoinSwitch: All Eyes Turn to Friday's CPI Print

The CoinSwitch Markets Desk said BTC briefly dipped below USD 78,000 this week. Rising oil prices and Middle East tensions lifted inflation concerns broadly. Markets currently price in close to a 58% chance of a hike. The desk named USD 78,000 to USD 79,000 as the key support zone.

Delta Exchange: Implied Volatility Signals a Larger Move Ahead

Delta Exchange analyst Riya Sehgal said Bitcoin traded near USD 78,700 after another cautious session. The weakness looked more macro-driven than crypto-specific this time. She flagged USD 77,500 to USD 78,000 as the key support region. Implied volatility climbed past 40, hinting at a bigger swing ahead.

Also Read: How Bitcoin Dominance is Calculated and What it Means for Crypto Investors

WazirX: Sentiment Stays in a ‘Greed, but Cautious’ Phase

WazirX founder Nischal Shetty pointed to US equities closing lower this week. Higher oil prices revived inflation worries and added fresh pressure. The Fear and Greed Index held elevated at 73 despite the dip. Shetty noted ETF flows turned slightly negative, adding modest near-term caution.

Crypto Prices Today: Top 10 Coins at a Glance

Source: CoinGecko, prices as of today's session.

Biggest Gainers and Losers Today

Zcash led the top ten by a wide margin, jumping 9.9% and extending its seven-day gain past 48%. XRP followed with a 3.0% rise, while Figure HELOC added the same margin. No coin in the top ten posted a decline over the past 24 hours today. Bitcoin trailed the group with a steady 0.4% gain as traders stayed defensive.

Crypto News Today: Top Headlines Impacting Prices

US-Iran Tensions Keep Oil Elevated and Pressure Risk Assets

US forces struck Iranian oil tankers near Kharg Island over the weekend, extending months of Gulf hostilities. Brent crude has climbed more than 6% this month, keeping inflation concerns firmly in view for traders.

Bitcoin has stayed comparatively resilient this time, unlike earlier episodes in the conflict. Analysts say steady ETF demand is helping absorb some of the geopolitical selling pressure across major desks.

Bitcoin ETFs Add USD 905 Million Ahead of the CPI Report

US spot Bitcoin ETFs pulled in roughly USD 905 million over two sessions this week, led again by BlackRock's IBIT fund. The inflows arrived even as Bitcoin faced a tougher geopolitical backdrop than earlier weeks.

Futures open interest held near USD 53 billion, according to CoinGlass data released this week. Analysts say continued ETF buying could offset selling pressure if oil and yields keep climbing into Friday.

Zcash Extends its Rally as Privacy Coins Lead the Market

Zcash jumped 9.9% in 24 hours and has now gained over 48% across the past seven days. The rally follows Grayscale's conversion of its Zcash Trust into a spot ETF on NYSE Arca.

Rising shielded pool adoption and heavy mining demand have added further support to the move. The wider privacy coin sector remains the standout performer among all major categories this year.

CLARITY Act Faces a Make-or-Break Senate Vote Next Week

The Senate is set to hold a procedural vote on the CLARITY Act on September 15. A 60-vote threshold is needed to keep the crypto market structure bill alive this year.

Republicans and crypto-friendly Democrats remain divided over an ethics provision central to the bill. A failed vote would leave the legislation without a clear path forward before year-end.

Friday's CPI Report Emerges as the Market's Next Catalyst

The August Consumer Price Index report due Friday stands as this week's most significant catalyst. Economists expect the data to shape rate hike odds heading into the Fed's meeting.

A softer print could ease Treasury yields and support a fresh push toward USD 82,000. A hotter reading risks reinforcing hawkish bets and pulling Bitcoin back toward key support near USD 77,000.

Bitcoin Shows Resilience 

Bitcoin has held near USD 79,000 despite a materially worse geopolitical backdrop than earlier in the conflict. Traders note the muted reaction contrasts sharply with sharper selloffs seen just weeks ago.

Desks are watching whether ETF buying keeps absorbing pressure if oil stays elevated. A sustained move above USD 80,000 would likely require calmer headlines out of the Gulf region.

Investor and Market Outlook

Friday's CPI report carries outsized weight for Bitcoin's next move this week. A soft print could ease yields and open a path toward USD 82,000. A hot number risks reinforcing hawkish bets and pressuring prices lower. The CLARITY Act vote on September 15 adds a second layer of uncertainty. Desks recommend disciplined position sizing over leverage until both events pass.

FAQs

What is the Bitcoin price today? 

Bitcoin trades near USD 78,970.89, up 0.4% over the past 24 hours, according to live CoinGecko data. Support holds near USD 77,500, while resistance sits close to USD 80,000 across major trading desks watching this week's session.

Why is Friday's CPI report important for crypto today? 

The CPI print will shape expectations for the Federal Reserve's next rate decision. A cooler-than-expected reading could ease yields and support Bitcoin, while a hotter print risks reinforcing hawkish rate hike bets across markets.

What is the biggest crypto news today? 

Today's biggest headlines include Zcash's continued rally past USD 1,200, Bitcoin ETFs absorbing USD 905 million ahead of Friday's CPI report, and the CLARITY Act's pending Senate vote scheduled for September 15.

Which coins are performing best today? 

Zcash leads the top ten with a 9.9% daily gain, followed by XRP and Figure Heloc, both up 3.0%. No coin in the top ten declined over the past 24 hours.

What should investors watch this week?

Track Friday's CPI report, the CLARITY Act's Senate vote, and any fresh escalation in US-Iran tensions closely, since each carries the potential to move crypto prices sharply into next week's session.