Crypto Market Recap Sep 13: Bitcoin Slips Under $77,000 USD, Back Below Its Pre-CPI Price
Bitcoin (BTC) is trading at $76,728.66 USD, or $106,449.41 CAD, down 0.74% over the past 24 hours. Ethereum (ETH) is at $2,482.10 USD, or $3,443.34 CAD, down 1.71%. Crypto trades continuously, so these are 9:09pm ET snapshots on Sunday, September 13, not closing prices.
The number that matters more than either is what they are measured against. Friday morning at 8:00am ET, in the last print before the US August inflation report landed, Bitcoin was at $77,014.88 USD and Ethereum was at $2,457.61 USD. Two days later, Bitcoin is 0.37% below that level. Ethereum is 1.00% above it.
That split is the whole story of the weekend, and it is the opposite of what the intraday tape suggested on Friday.
| Asset | Price | 24h |
|---|---|---|
| Bitcoin (BTC) | $76,728.66 USD / $106,449.41 CAD | -0.74% |
| Ethereum (ETH) | $2,482.10 USD / $3,443.34 CAD | -1.71% |
| XRP | $1.86 CAD | -1.78% |
| Solana (SOL) | $138 CAD | -2.40% |
| Cardano (ADA) | $0.28 CAD | -1.80% |
| Dogecoin (DOGE) | $0.11 CAD | -2.80% |
Source: Yahoo Finance. Bitcoin and Ethereum are 9:09pm ET snapshots; the four smaller tokens are 8:05pm ET snapshots in Canadian dollars from our nightly pull. Everything red, nothing dramatic, and the smaller tokens fell harder than the large ones, which is the ordinary shape of a risk-off drift rather than the signature of any single event.
The spike, and who gave it back
The August Consumer Price Index from the Bureau of Labor Statistics landed hot: headline prices up 0.4% on the month and 3.4% over the year, core up 0.3% and 2.4%. Hot inflation is a hawkish signal, and hawkish signals are supposed to hurt assets that pay no yield. Both coins rallied anyway.
Bitcoin ran from $77,014.88 USD to an intraday high of $79,748.38 USD, a gain of 3.55%. Ethereum ran from $2,457.61 USD to $2,666.82 USD, a gain of 8.51%. Ethereum spiked roughly two and a half times as hard.
Since then both have unwound, and Ethereum has unwound further. It sits 6.93% below Friday’s high against Bitcoin’s 3.79%. But because Ethereum started from so much further behind, giving back more of a bigger move still leaves it ahead of where it began. Bitcoin gave back a smaller move completely and kept going.
The relative price shows the same thing from the other side. Ethereum is worth 0.03234 Bitcoin tonight, off the 0.03265 it closed at on Saturday, its best level against Bitcoin in thirty days. Over the past seven days Bitcoin is down 3.92% and Ethereum is down 0.83%. Ethereum had the worse day and is having the much better week.
What the rates market actually did
The cleanest read on Friday’s inflation print is not a commentary quote. It is the October federal funds futures contract, which settles on the average overnight rate the Fed actually delivers in October, and therefore prices the September 16 decision in full.
That contract settled at 96.180 on Thursday and 96.140 on Friday. Subtract from 100 and those are implied average October rates of 3.82% and 3.86%. The Fed’s current target range, set out verbatim in the July 29 FOMC statement, is “3-1/2 to 3-3/4 percent.”
That is the single most useful fact on this page. Futures are pricing an October policy rate above the top of the range the Fed is sitting in today. Not near the top of it. Above it. Whatever else is unresolved about Wednesday, the market has stopped pricing a cut and started pricing an increase.
We are quoting the contract rather than a probability on purpose. Converting a futures price into “an X% chance of a hike” requires assuming a spread between the effective rate and the target range, and that assumption is a guess. It is also why the hike odds in circulation last week ranged from the low 60s to near 90 depending on which instrument the quoting desk used. The contract price is not an opinion about any of that. It is where money changed hands.
Nobody can honestly tell you what moved crypto tonight
Here is the part most recaps will skip. From midday through late afternoon on Sunday, Bitcoin held a band between $77,106.24 and $77,393.70 USD. In the evening it broke through $77,000 and printed a low of $76,355.34 USD.
There is no identifiable catalyst for that leg. No filing, no exchange incident, no data release. And critically, the market that would normally explain it was shut: federal funds futures do not trade Saturday, and Friday’s settle is the last full session on the board. Whatever moved crypto on Sunday evening, it was not a rates repricing, because rates were not repricing. They were closed.
So we are not going to invent a reason. A thin weekend tape moved a few hundred dollars ahead of a heavy week. That is the honest description, and anyone offering you a tidier one is guessing with more confidence than the data supports.
Three dates, three days
What is knowable is the calendar, and it is unusually dense.
Monday, 8:30am ET. Statistics Canada publishes the August Consumer Price Index. This is the Canadian half of the question Friday’s US print raised, and it lands into a Bank of Canada policy rate of 2.25% that has not moved since October 30, 2025. We set out what the number has to do to change that in our look at Canada’s August inflation report and the rate path.
Tuesday. The Senate is reported to hold a cloture vote on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, at 2:15pm ET. Treat the date with care. The Congressional Record for September 10, the Senate’s last session day, lists Monday’s program as a judicial nomination and carries no cloture motion on the bill at all, and under Rule XXII a motion filed Monday would ripen Wednesday. We walked through what the Senate’s own record shows about the vote date on Friday, and nothing has been published since to settle it.
Wednesday, 2:00pm ET. The FOMC decision, with a Summary of Economic Projections attached. The projections matter more than the decision here. A hike that futures have already priced changes little. A dot plot showing more of them changes the discount rate on every long-duration asset, which is most of what crypto is.
What a Canadian holder actually saw
Bitcoin fell 0.74% in US dollars today and 0.60% in Canadian dollars. That 0.14 point gap is not a rounding artifact, it is the currency: the loonie softened against the US dollar over the same window, which cushions a Canadian holder on the way down and clips them on the way up. A Fed pricing increases against a Bank of Canada that has sat still for almost a year is the backdrop to watch there, though a single evening’s move is far too small to pin on it.
It also raises the question this piece cannot answer, which is where a Canadian is supposed to hold this exposure. The coin itself is not a qualified investment for a registered account. The Canada Revenue Agency is explicit in its folio on qualified investments that cryptocurrencies “are not considered to be money issued by a government of a country and are not qualified investments,” so the TFSA and RRSP route runs through listed equities instead. We rank the Canadian crypto stocks on how much Bitcoin each share actually owns, straight from the filings, because that is the number that decides whether you are buying coins or buying a data centre business that used to mine them.
Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. Crypto prices are a 9:09pm ET snapshot on September 13, 2026, not a close. Smaller tokens are an 8:05pm ET Canadian dollar snapshot. Price data from Yahoo Finance; rate figures from CME October federal funds futures and the July 29, 2026 FOMC statement.
