Bitcoin Holds Near $80K as Traders Await Powell’s Jackson Hole Speech

ChainCatcher report, according to CoinDesk, Bitcoin is currently holding near $80,000 as traders focus on Federal Reserve Chair Kevin Warsh’s keynote speech at the Jackson Hole symposium. The annual seminar, hosted by the Kansas City Fed, opened on Wednesday, and Warsh is scheduled to speak Friday morning. Inflation remains well above the Fed’s 2% target, and long-term borrowing costs are near multi-year highs; the Fed has maintained its benchmark interest rate range at 3.5%-3.75% over the past several months. Mark Connors, Chief Investment Officer at Risk Dimensions, expects Warsh to keep the option of rate hikes on the table but not to raise rates before the midterm elections. The July PCE inflation rate stood at 3.7%, partly driven by rising energy prices following the Iran conflict. Samir Kerbage, Chief Investment Officer at Hashdex, noted that Bitcoin does not directly respond to the September FOMC decision but instead follows global liquidity and long-end yield curve movements—similar to gold’s drivers. Last week, after 30-year U.S. Treasury yields hit a 19-year high, the U.S. Treasury announced increased purchases of long-term Treasuries, prompting a rise in Bitcoin; Kerbage described this rally as “primarily a liquidity event.” This year’s Jackson Hole symposium focuses on financial innovation, payments, and policy, with stablecoins, tokenized deposits, and faster settlement systems at the center of discussions. Kerbage believes that if Warsh views these technologies as integral components of the financial system rather than risks to be contained, the impact could extend beyond Bitcoin—smart contract networks and protocols handling tokenized payments and settlements stand to benefit most directly from this shift.