GM Brothers and Sisters
✅Price action
Bitcoin weakened after Fed Chair Kevin Warsh’s Jackson Hole speech, briefly falling to about $78,442 and failing to hold convincingly above $80,000.
It later traded around $79,500.
At the time of writing, BTC was up about 26.35% month-to-date, its strongest August performance since 2017.
✅Warsh’s inflation and policy stance
Warsh said that although recent CPI and PCE prints came in softer than expected, they do not show that underlying inflation trends have “meaningfully improved.”
He reaffirmed the Fed’s 2% inflation target and said the Fed would no longer use forward guidance.
✅Stock-market and risk-asset reaction
U.S. stocks held up relatively well, with the S&P 500 and Nasdaq up about 0.5% at the time.
Warsh also spoke positively about business performance and AI-sector growth.
✅What would be needed for further upside
Technically: To keep the uptrend intact, Bitcoin would need to break above a downward-sloping trend line and hold the 50-week EMA near $77,250.
On-chain: There is a thick band of resistance between the current price and $86,000.
Derivatives: QCP Capital said that even a move above about $83,300 would matter less than whether funding stays contained and open interest rebuilds gradually.
Otherwise the rally would be leverage-driven rather than spot-driven.
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Plan accordingly & Choose wisely
✨May your life radiant with Bitcoin✨
bitcoin:native