Bitcoin remained around $80,000 on Friday, August 28, as crypto markets pushed higher ahead of Federal Reserve Chair Kevin Warsh’s first major speech at the Jackson Hole symposium. Investors are watching closely for clues about the Fed’s next move on interest rates.
Bitcoin climbed nearly 2% over the past 24 hours, briefly reaching $81,280 before settling near $80,000. The move extends a strong weekly rally, with Bitcoin gaining roughly 9% over the past seven days.
A major source of support has been continued demand from U.S. spot Bitcoin ETFs. The products recorded inflows for eight straight sessions, bringing total inflows during the streak to about $2.8 billion. August has now surpassed $3 billion in net inflows, making it Bitcoin ETFs’ strongest month of 2026.
Solana was the standout among major cryptocurrencies. SOL jumped more than 4% in 24 hours to trade near $101, taking its weekly gain to approximately 20%. Ether advanced more than 1% to around $2,492, while XRP gained nearly 2% to about $1.43. BNB also moved higher, while Dogecoin was little changed.
Fed Signals Could Decide Bitcoin’s Next Move
The crypto rally is unfolding against a complicated macro backdrop. Brent crude has fallen more than 5% this week to below $90 a barrel after Iran and Oman reached an agreement concerning the Strait of Hormuz. Lower oil prices could ease inflation concerns and potentially give the Federal Reserve more flexibility on monetary policy.
U.S. Treasury yields remain elevated, with the 10-year yield around 4.67% and the two-year yield near 4.23%. The U.S. dollar index is also holding above 99, keeping financial conditions relatively tight.
The biggest catalyst, however, is likely to be Warsh’s Jackson Hole speech. Investors are looking for clearer signals on whether the Fed could raise rates in September. Markets are pricing a meaningful probability of a September hike and fully pricing a move by December.
That creates a key setup for crypto traders. Bitcoin has gained around 9% this week despite relatively hawkish rate expectations, suggesting strong demand is absorbing potential selling pressure.
If Warsh sounds less hawkish than expected, lower yields and a weaker dollar could support another leg higher for Bitcoin and other risk assets. A more aggressive message could instead trigger profit-taking following the sharp weekly rally.
Bitcoin’s ability to hold $80,000 is therefore becoming an important technical and psychological signal. A sustained break above the level could bring the May high near $83,000 into focus, while a rejection could increase the risk of a short-term pullback.
Warsh’s speech could quickly move Treasury yields, the U.S. dollar and broader risk appetite. Traders should watch the $80,000 BTC level alongside ETF flows, yields and the dollar to gauge whether the current rally has enough momentum to continue.
