Bitcoin slipped back below $80,000 during Asian trading Friday as investors positioned for Federal Reserve Chair Kevin Warsh’s first keynote at the Jackson Hole Economic Policy Symposium. BTC had climbed nearly 2% over the previous 24 hours, briefly touching $81,280 before retreating.

The broader crypto market remained firmly in positive territory, with nearly all major tokens advancing over the past day. Bitcoin has gained about 9% over the past week, while Solana has delivered an even stronger 20% increase.

Warsh’s Jackson Hole speech is emerging as the market’s main near-term catalyst. The annual symposium, hosted by the Kansas City Federal Reserve in Wyoming, has frequently generated policy comments that influence global markets. Warsh has provided few clear indications about his preferred interest-rate path so far, increasing the importance of his remarks ahead of the Sept. 16 Federal Open Market Committee meeting.

Bitcoin’s recent advance has been supported by continued institutional demand. U.S. spot Bitcoin ETFs have attracted approximately $2.8 billion through eight consecutive sessions of inflows, marking their longest winning streak since April. August inflows have also exceeded $3 billion, positioning the month to become the strongest of 2026 with only one trading session left.

Solana climbed more than 4% to almost $101, pushing its seven-day gain to around 20%. Ether added slightly more than 1% to approximately $2,492, while XRP rose nearly 2% to $1.43. BNB gained more than 1% to approach $714, and Tron edged up less than 1% to roughly $0.34. Dogecoin remained near $0.09, while HYPE declined less than 1% to about $82, making it the only major token to trade lower.

The weekly gains extended beyond Bitcoin and Solana. Ether and XRP were both up nearly 11%, Dogecoin advanced 16%, and HYPE gained about 12%.

Among the top 100 cryptocurrencies, Ethena’s ENA was the standout performer. It gained around 6% over 24 hours and 45% during the week following a governance vote that directed protocol revenue toward buybacks and modified the treatment of venture-related token unlocks.

Lower Oil Prices Improve the Macro Picture

Declining crude prices have also helped ease concerns over inflation. Brent crude fell below $90 per barrel and was down more than 5% for the week after Iran and Oman reached terms regarding the administration of the Strait of Hormuz.

The development reduced the possibility of an energy-driven inflation shock as traders consider whether the Federal Reserve is nearing the end of its rate-hiking cycle.

U.S. Treasury yields remained elevated, with the 10-year yield around 4.67%, seven basis points lower for the week. The two-year yield stood near 4.23%, while the dollar index remained just above 99. Gold declined to approximately $4,587 an ounce.

Equity markets received additional support from Nvidia. The chipmaker reported quarterly revenue of $96.2 billion and projected third-quarter revenue above $105 billion. Nvidia shares surged 9%, adding roughly $442 billion to its market capitalization and helping the Nasdaq rise 1.3%.

The Wall Street Journal separately reported that Nvidia had paused certain transactions tied to a new financing program intended to provide credit support to AI cloud providers in exchange for a portion of their revenue. The report cited people familiar with the matter.

Bitcoin Traders Watch $83,000

Despite the potential for policy-driven volatility, some analysts believe Bitcoin’s broader uptrend remains intact.

Joel Kruger, a market strategist at LMAX Group, said that pullbacks should remain limited, with the May high just below $83,000 representing an important level for bulls.

Interest-rate futures, however, continue to reflect a relatively hawkish outlook. Markets currently assign a 35% probability to a September rate hike and fully price a hike by December.

Bitcoin’s ability to rise around 9% in a week despite those expectations highlights a key market divergence heading into Warsh’s speech, which is scheduled for 7:30 p.m. India time.

Bitfinex analysts said the recent Bitcoin rally has developed into a squeeze involving a concentrated pool of sellers. They identified the $77,100-$80,000 range as an important supply zone, with strong spot demand currently absorbing selling pressure.

Bitcoin ETF flows will also remain an important indicator. August needs just one more trading session to overtake October 2025 as the largest monthly inflow period since the launch of U.S. spot Bitcoin ETFs. Sustained buying through Warsh’s address would reinforce the view that institutional demand remains strong even if the Fed chair adopts a hawkish tone.