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Bitcoin (BTC-USD is below the 7-day moving average -> bearish, but is above the 30 day moving average -> bullish, with 1 week change of -0.8%) peaked near $81,330 on Thursday before pulling back to around $77,700 on Friday, as Warsh's hawkish Jackson Hole remarks pushed rate-hike odds to 68% and pressured crowded long positions. Spot Bitcoin ETFs still logged a nine-day inflow streak, taking in roughly $242 million on the final day and helping cushion the drop. Sentiment had been supported by ongoing Clarity Act momentum and Missouri's proposed state Bitcoin reserve bill, both unaffected by the Fed news. $6.4 billion in CME options expired the same morning Warsh spoke, removing a hedging buffer and amplifying the selloff.
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