Bitcoin traded below $80,000 during Friday’s Asian session as traders awaited Federal Reserve Chair Kevin Warsh’s first major address at the Jackson Hole Economic Policy Symposium. BTC had gained nearly 2% over the previous 24 hours and briefly reached $81,280 overnight.
The broader crypto market remained positive, with nearly every major asset posting gains over the past day. The weekly picture was even stronger, with Bitcoin up around 9% and Solana gaining approximately 20%.
Warsh’s Jackson Hole appearance is drawing particular attention because the annual Kansas City Fed symposium has historically produced comments capable of moving financial markets. Since taking the Fed chair role, Warsh has offered limited guidance on where he believes interest rates should go, leaving investors looking to Friday’s speech for clearer signals ahead of the Sept. 16 FOMC meeting.
Bitcoin’s recent strength has coincided with persistent demand from U.S. spot exchange-traded funds. The ETFs attracted $2.8 billion across eight consecutive sessions, marking their longest inflow run since April. August inflows have also surpassed $3 billion, putting the month on course to become 2026’s strongest ETF month with one trading session remaining.
Solana gained more than 4% to approach $101, taking its weekly increase to roughly 20%. Ether rose slightly above 1% to around $2,492, while XRP added nearly 2% to about $1.43. BNB climbed more than 1% to nearly $714, and Tron advanced less than 1% to approximately $0.34. Dogecoin was largely unchanged near $0.09. HYPE was the lone major decliner, falling less than 1% to around $82.
The seven-day performance across major tokens remained broadly strong. Ether and XRP were each higher by nearly 11%, Dogecoin climbed 16%, and HYPE gained about 12%.
Ethena’s ENA topped the gains among the 100 largest cryptocurrencies, rising 6% over 24 hours and 45% over the week. The token rallied after governance participants approved a plan to use protocol revenue for buybacks while changing the structure of venture-related token unlocks.
Falling Oil Prices Ease Inflation Pressure
The macro backdrop also improved as crude prices declined. Brent crude traded below $90 a barrel and had fallen more than 5% over the week after Iran and Oman reached an agreement covering the administration of the Strait of Hormuz.
The development helped reduce fears of an energy-led inflation shock at a time when markets are debating whether the Federal Reserve is approaching the end of its tightening cycle.
The 10-year Treasury yield remained near 4.67%, down seven basis points for the week. The two-year yield was around 4.23%, while the dollar index held slightly above 99. Gold fell to approximately $4,587 per ounce.
Nvidia provided another boost to broader risk sentiment. The chipmaker reported $96.2 billion in quarterly revenue and projected third-quarter revenue above $105 billion. Its shares jumped 9%, increasing the company’s market value by about $442 billion and helping the Nasdaq gain 1.3%.
The Wall Street Journal also reported that Nvidia had put some transactions on hold under a new financing initiative intended to provide credit support to AI cloud companies in return for a portion of their revenue, citing people familiar with the arrangements.
Bitcoin’s Next Move Depends on Warsh and ETF Demand
Some market analysts believe Bitcoin’s recent momentum leaves limited room for a major pullback.
Joel Kruger, market strategist at LMAX Group, said that “setbacks should now be limited,” identifying the May high just below $83,000 as a key level for the market.
Meanwhile, interest-rate futures imply a 35% probability of a September hike and fully price a rate increase by December. Bitcoin’s 9% weekly gain despite those expectations creates a notable tension that could be tested by Warsh’s Jackson Hole remarks.
Warsh is scheduled to deliver his keynote at 7:30 p.m. India time, putting his comments at the center of the market’s near-term focus.
Bitfinex analysts said Bitcoin’s advance has evolved into a squeeze involving a concentrated group of sellers. They highlighted $77,100-$80,000 as an important supply area where strong spot buying has been absorbing available selling pressure.
ETF flows could determine whether that demand remains durable. August requires only one more positive trading session to surpass October 2025 for the largest monthly inflow total since the launch of U.S. spot Bitcoin ETFs. If buying continues around Warsh’s speech, it would signal that institutional demand remains strong despite expectations for a potentially hawkish policy message.
