Home›Crypto›Market Structure›Bitcoin heads into a busy week with Jackson Hole in fo…

Bitcoin heads into a busy week with Jackson Hole in focus

Bitcoin is up 23% month to date, as traders look to Jackson Hole, U.S. growth and inflation data, and geopolitical risk.

Reported · Written up by our desk · Market Structure

Bitcoin enters the final week of August with momentum after its strongest monthly performance in nearly a decade, according to CoinDesk, citing Coinglass data. The article says BTC is up 23% month to date and is on track for its best August since 2017, when it rose 65%, while the median August return stands at -7%.

CoinDesk also points to a catalyst-heavy schedule for crypto, with U.S. economic data on growth and inflation expected to influence digital asset markets. The Jackson Hole symposium, set for Friday, is highlighted as another key driver for sentiment around policy expectations.

The outlet says Fed Chair Kevin Warsh’s first keynote address during the event will be closely monitored. CoinDesk reports that a speech that keeps additional Fed tightening at a distance could help preserve a weaker-dollar, lower-yield backdrop, while a more hawkish outcome could prompt profit-taking.

CoinDesk adds that other risks could weigh on the week, including lingering uncertainty in the U.S.-Iran conflict and concerns that Russia’s invasion of Ukraine could escalate beyond a local fight. It also lists several on-chain governance votes spanning Hyperliquid, CoW DAO, Superfluid DAO, Sushi DAO, ShapeShift DAO, Arbitrum DAO, and GnosisDAO, with multiple voting deadlines between Aug. 25 and Aug. 27.

Latest closeBitcoin $77,639.60 ▼0.1%

More like this

Sources