Good morning! Bitcoin holds above $78K.. and Jackson Hole today
We open Thursday with crypto markets in a state of anticipation, with Bitcoin staying above $78K despite inflation data coming in higher than expected.
📊 Market prices:
· BTC: 78,600 – 79,012$ (+0.62%)
· ETH: 2,492 – 2,507$ (+2.62%)
· SOL: 100.97 – 101.71$ (+3.92%)
· XRP: 1.38 – 1.41$ (-2.31%)
🔥 Key movers:
1. PCE inflation data – 3.7% vs. the expected 3.6%, raising the likelihood of a rate hike to 38%, yet Bitcoin held.
2. SEC moves – submitted a proposal to amend rules for custody of crypto assets, which could reduce barriers for institutions.
3. ETF funds – positive inflows for 7 consecutive days, totaling $3 billion in August.
4. Weekly gains – BTC +23%, ETH +30%, SOL breaks above $100.
⚠️ Warnings: BTC needs $80K to confirm the breakout, and $77K is the main support. RSI is in overbought territory, and the Fear index is at 71 (greed).
📅 Today: Remarks by the Fed Chair at Jackson Hole — may set the path for rates and markets for the coming months.
💬 **Will BTC stay above $78K until Warsh’s remarks, or will the tables turn? Share your take 👇
$BTC **
We open Thursday with crypto markets in a state of anticipation, with Bitcoin staying above $78K despite inflation data coming in higher than expected.
📊 Market prices:
· BTC: 78,600 – 79,012$ (+0.62%)
· ETH: 2,492 – 2,507$ (+2.62%)
· SOL: 100.97 – 101.71$ (+3.92%)
· XRP: 1.38 – 1.41$ (-2.31%)
🔥 Key movers:
1. PCE inflation data – 3.7% vs. the expected 3.6%, raising the likelihood of a rate hike to 38%, yet Bitcoin held.
2. SEC moves – submitted a proposal to amend rules for custody of crypto assets, which could reduce barriers for institutions.
3. ETF funds – positive inflows for 7 consecutive days, totaling $3 billion in August.
4. Weekly gains – BTC +23%, ETH +30%, SOL breaks above $100.
⚠️ Warnings: BTC needs $80K to confirm the breakout, and $77K is the main support. RSI is in overbought territory, and the Fear index is at 71 (greed).
📅 Today: Remarks by the Fed Chair at Jackson Hole — may set the path for rates and markets for the coming months.
💬 **Will BTC stay above $78K until Warsh’s remarks, or will the tables turn? Share your take 👇
$BTC **
