Bitcoin moved to a higher position after a rapid pull-up last week, with the latest offer approaching US$ 77,364, with a cumulative increase of 22.1 per cent over seven days. As prices approached at a time of $80,000, the market’s focus this week turned to US inflation, the revision of economic growth, and the latest statement by Federal Reserve Chairman Kevin Walsh.

Wednesday data is centralized.

The US Bureau of Economic Analysis will publish the July Personal Consumer Expenditure Price Index (PCE) and the second-quarter revision of GDP at 8:30 US Eastern Time. The PCE, especially the core PCE, has been an important reference for the Federal Reserve in measuring inflation.

If inflation is higher than expected, the market may recharging interest rates at a high level, which in turn pushes higher rates of return on United States debt and the United States dollar, which usually suppresses risky assets such as bitcoin. If data are weak, interest rate pressures may ease, but the market will still focus on core sub-performance.

United States GDP in the second quarter grew at an annual rate of 1.5 per cent, down from 2.1 per cent in the first quarter. If the correction value continues to weaken, it may strengthen the economic slowdown; if private sector demand remains resilient, the market ' s judgement of growth may adjust accordingly.

Warsh, first appearance of Jackson Hall.

The President of the Fed, Kevin Walsh, will deliver a keynote address at the Jackson Hall Seminar on Economic Policy on Friday, 10 p.m. American Eastern Time. This will be his first keynote address on this occasion, from which the market wishes to judge future interest rate paths.

The theme of this year's meeting was “Financial innovation: impact on payments and policies”. In this context, Warsh, in addition to discussing monetary policy, may also speak of payment systems and changes in financial technology. In July, the Federal Reserve maintained its benchmark interest rate at between 3.50 and 3.75 per cent, with a 9 to 3 vote, and internal differences remained over subsequent policies.

$80,000 is still short-line resistance.

Bitcoin rose, driven in part by the expansion of long-term treasury liquidity by the United States Treasury Department to support buy-back operations. According to the statement of the Ministry of Finance, the single operating cap will increase from $2 billion to at least $4 billion as of 9 September. Following the release of the message, some long-term gains have been reversed and the need for risk assets has improved.

  • On August 19, United States spot bitcoin ETF net inflows were about $517 million.
  • On 20 August, United States spot bitcoin ETF net inflows were about $606 million.
  • Bitcoin was tested for $80,000 last week.

In terms of price positions, $80,000 remains the most direct resistance to bitcoin. If there is a fallback, $75,000 is the first observation area, and the earlier breakthrough area is between $70,000 and $72,000.

This week, focus on three catalysts.

In addition to Wednesday's PCE and GDP revisions, the U.S. will publish August consumer confidence data on Tuesday. If inflation slows and there is no apparent hawk bias in the Fed ' s speech, bitcoin may be tested again for $80,000; if inflation cools or the Fed releases stronger signals, market volatility may be magnified once more when short-term increases are already high.