Bitcoin’s next move may depend on the PCE, NVIDIA earnings, and Warsh’s speech.

Huo Xing Finance reports that on August 26, Bitcoin’s next move may hinge on three key events this week: the U.S. July PCE inflation data, NVIDIA’s second-quarter earnings report, and Federal Reserve Chair Walsh’s speech at the Jackson Hole Symposium. After rising from approximately $63,000 to above $80,000, Bitcoin has now pulled back below $79,000, with its 14-day RSI exceeding 70, indicating a short-term overbought condition. Markets expect U.S. core PCE to have increased by 3.2% year-over-year and 0.18% month-over-month in July, compared to 3.3% and 0.13% in June. If the data exceeds expectations, it could reignite concerns about Fed rate hikes and exert downward pressure on Bitcoin and the broader crypto market. CME FedWatch shows that bond markets currently price in nearly a 38% probability of a 25-basis-point Fed rate hike in September. NVIDIA will release its second-quarter earnings after market close on Wednesday. A significantly better-than-expected report could alleviate market concerns about AI-related capital expenditures being funded through debt and support risk assets. Since early 2025, the 90-day rolling correlation between Bitcoin and NVIDIA’s stock price has mostly remained above 0.5. Traders will also closely monitor Walsh’s speech on Friday. The U.S. Treasury’s recent plan to increase long-term Treasury buybacks to curb rising yields has been viewed by markets as a catalyst for Bitcoin’s recent rally. The market will observe whether Walsh adjusts his previous stance favoring market-driven pricing and expresses support for the Treasury’s actions.