Bitcoin Pulls Back From $80K While Solana Climbs Into Warsh’s Jackson Hole Debut

Bitcoin fell back below $80,000 in Asian trading Friday after briefly reaching $81,280 overnight. The cryptocurrency had gained nearly 2% over the previous 24 hours as traders prepared for Federal Reserve Chair Kevin Warsh’s first keynote address at the Jackson Hole Economic Policy Symposium.

The broader crypto market continued to advance, with almost all major tokens posting gains over the past 24 hours. Bitcoin is up roughly 9% over the last week, while Solana has surged about 20% during the same period.

Investors are closely watching Warsh’s Jackson Hole appearance for clues about the Federal Reserve’s next policy moves. The annual symposium, organized by the Kansas City Fed in Wyoming, has historically produced speeches capable of triggering significant moves across financial markets.

Warsh has so far offered limited insight into his preferred interest-rate trajectory, making Friday’s address particularly important ahead of the Federal Open Market Committee’s Sept. 16 meeting.

Bitcoin ETF Demand Remains Strong

U.S. spot Bitcoin ETFs have continued to attract substantial capital. The funds recorded approximately $2.8 billion in inflows across eight consecutive trading sessions, the longest such streak since April.

August has already surpassed $3 billion in total ETF inflows and is on track to become the strongest month of 2026, with only one trading session remaining.

Solana gained more than 4% to trade near $101, lifting its weekly advance to around 20%. Ether rose slightly more than 1% to roughly $2,492, while XRP gained almost 2% to around $1.43. BNB added more than 1% to approach $714.

Tron rose less than 1% to about $0.34, while Dogecoin remained little changed near $0.09. HYPE was the only major cryptocurrency to decline, slipping less than 1% to approximately $82.

Across the seven-day period, Ether and XRP each climbed nearly 11%, Dogecoin rose around 16%, and HYPE gained approximately 12%.

Ethena’s ENA was the strongest performer among the top 100 crypto assets, advancing 6% over 24 hours and 45% over the week. The rally followed a governance vote approving the use of protocol revenue for buybacks and changes to the structure of venture token unlocks.

Oil Slide Eases Inflation Concerns

The macroeconomic backdrop also became more supportive as oil prices declined. Brent crude dropped below $90 a barrel and was down more than 5% over the week after Iran and Oman reached an agreement related to the management of the Strait of Hormuz.

The development reduced concerns that an energy shock could reignite inflation just as investors debate whether the Federal Reserve has reached the end of its tightening cycle.

The 10-year Treasury yield remained near 4.67%, although it was seven basis points lower for the week. The two-year yield stood around 4.23%, while the U.S. dollar index traded slightly above 99. Gold slipped to roughly $4,587 per ounce.

U.S. stocks also benefited from Nvidia’s latest results. The chipmaker reported quarterly revenue of $96.2 billion and forecast third-quarter revenue above $105 billion. Its shares jumped 9%, adding approximately $442 billion to its market value and helping the Nasdaq rise 1.3%.

The Wall Street Journal reported separately that Nvidia had paused some transactions linked to a financing initiative designed to extend credit support to AI cloud providers in exchange for a portion of their revenue.

$83,000 Becomes the Next Bitcoin Benchmark

Some traders expect Bitcoin’s latest pullback to remain limited. Joel Kruger, a market strategist at LMAX Group, said setbacks should be contained, pointing to the May high just below $83,000 as an important level.

At the same time, derivatives markets continue to reflect a hawkish interest-rate outlook. Futures currently imply a 35% probability of a September rate increase and fully price a hike by December.

Bitcoin’s roughly 9% weekly gain despite those expectations creates a significant tension ahead of Warsh’s speech. His keynote is scheduled for 7:30 p.m. India time.

Bitfinex analysts said the recent rally has turned into a squeeze against a concentrated group of sellers. They identified the $77,100-$80,000 region as a major supply zone, with strong spot demand absorbing selling pressure.

ETF flows could determine whether the current momentum continues. August needs just one more trading session to surpass October 2025 as the strongest month for inflows since U.S. spot Bitcoin ETFs launched. Another strong day of buying around Warsh’s speech would signal that institutional demand remains resilient despite the possibility of a hawkish Fed message.