Bitcoin Rally Stalls, But Long-Term Sentiment Remains Bullish — SkimNews
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- Bitcoin dropped to $76,877 on Friday from an overnight high of $81,455, giving up most of a double-digit weekly gain after Fed Chair Kevin Warsh's hawkish Jackson Hole keynote.
- Warsh said the Fed still has "work to do" on inflation, and September rate-hike odds jumped to 55.7% from 35.4% a day earlier, according to CME Group's FedWatch tool.
- Roughly $481 million in crypto liquidations hit in the 24 hours around the speech, with more than $360 million from long positions; Bitcoin closed at $77,557, down 3.39%.
- Myriad bettors are pricing Bitcoin's next major move at 77% for $84,000 versus 23% for $55,000, largely unmoved by Friday's selloff — the most bullish read since April.
- U.S. spot Bitcoin ETFs pulled in $2.8 billion over eight straight days through Wednesday, the longest streak since April, supporting the rally Warsh's remarks failed to derail.
- Technically, the pullback looks like digestion, not reversal: RSI at 69.7 (off overbought), ADX near 39.5 signaling a strong trend, with price still inside the June low-to-August high bullish leg.
- PCE inflation is running at 3.7% annually — nearly double the Fed's 2% target — and Warsh gave no timeline for when that changes, leaving Bitcoin exposed to headline-driven swings on every print.
Why it matters: Warsh's refusal to offer forward guidance leaves Bitcoin with no clean directional signal until the next Fed decision, with PCE at 3.7% versus the 2% target. Meanwhile, the $2.8B ETF inflow streak and 77% Myriad odds for $84,000 show underlying demand hasn't broken — the chart is digesting, not reversing.
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