BTC to Retest $83K Today? Warsh's Jackson Hole Debut in Focus

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On August 28, the crypto market entered another critical window. BTC briefly broke above $81,000 before pulling back toward the $80,000 level. Meanwhile, U.S. stocks rebounded sharply on the back of Nvidia’s earnings, reviving risk appetite around AI-related assets.

However, markets have not shifted into a one-way risk-on mode. U.S. PCE data remained relatively hot, oil prices moved higher again, and Treasury yields stayed elevated. Investors are now awaiting Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Economic Policy Symposium.

Nvidia Surge Lifts U.S. Stocks, While Korean Chipmakers Come Under Pressure

All three major U.S. stock indexes closed higher on Thursday. The Dow rose 0.20%, the Nasdaq gained 1.57%, and the S&P 500 advanced 0.72%. Nvidia jumped 8.7%, marking its biggest one-day gain since April 2025 and driving a notable recovery in sentiment across AI chips, semiconductors, and growth-oriented technology stocks.

Nvidia’s latest earnings report remained a key market catalyst. Both quarterly revenue and guidance came in above expectations, reinforcing confidence in AI chip demand, data-center capital expenditure, and the broader AI infrastructure cycle. In the near term, whether Nvidia can sustain its gains may directly influence the Nasdaq, semiconductor stocks, and overall risk appetite in the crypto market.

Macro pressures, however, have not fully faded. Reports said oil prices rose again after the White House rejected a return to the preliminary ceasefire agreement reached with Iran in June. BTCC market data showed Brent crude at $88.46 per barrel and WTI crude at $83.53 per barrel. A continued rebound in oil prices could once again lift energy inflation expectations.

During Asian trading on August 28, South Korean equities weakened significantly. The KOSPI closed Friday down 1.79% at 6,788.89, while SK Hynix fell 4.45% and Samsung Electronics declined 3.38%.

BTC Holds Near $80K as ETF Flows Continue to Provide Support

According to BTCC market data on August 28, BTC was trading at around $79,705, up 1.12% on the day. BTC briefly moved above $81,000 but failed to extend the breakout and later returned to consolidate near $80,000. The rebound in technology stocks and improving risk appetite provided support for BTC, while the U.S. dollar, Treasury yields, and expectations around Federal Reserve policy remained key short-term variables.

Funding conditions continued to improve. U.S. spot Bitcoin ETFs recorded total net inflows of around $242 million yesterday, marking nine consecutive days of net inflows. CoinDesk data showed that U.S. spot Bitcoin ETFs have continued to absorb capital recently, providing an important source of support as BTC consolidates near recent highs.

At the same time, upside pressure on BTC is also increasing. Several market participants believe there is substantial selling pressure around $82,000. CryptoQuant said BTC has entered the early stage of a new bull market, but a close above the 365-day moving average near $83,000 is needed to further confirm the trend. Meanwhile, rising exchange inflows and increased profit-taking by whales suggest that short-term overheating risks are also building.

From a technical perspective, the $80,000–$83,000 range is the key resistance zone. If BTC breaks above $83,000 on strong volume and holds that level, further upside could open up in the next stage. If it falls back below $78,000, however, it may retest the $75,000–$76,000 support zone.

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SOL Leads Gains as Capital Rotates Into Major Altcoins

ETH held near $2,500, though its intraday performance lagged behind higher-beta assets such as SOL. In the near term, ETH has support around $2,480, while resistance sits between $2,550 and $2,600. U.S. spot Ethereum ETFs recorded total net inflows of $235 million yesterday, marking nine consecutive days of net inflows.

SOL emerged as a new focus among major cryptocurrencies. According to BTCC market data, SOL was trading at around $106.58, up 5.38% on the day, after briefly breaking above $110. SOL’s strength was mainly driven by expectations surrounding a disinflation proposal. If approved, the proposal would significantly slow SOL’s supply growth and could reduce projected supply by around 19 million SOL over the next six years, potentially improving its supply-demand dynamics.

In addition, Charles Schwab announced plans to add SOL, AVAX, and LINK to its crypto spot trading platform in the coming months, expanding direct trading beyond BTC and ETH and further boosting investor attention toward major altcoins. HYPE remained near $83, supported by the Hyperliquid ecosystem and expectations of token buybacks.

Trading Outlook: Follow the Trend, but Avoid Chasing Rallies

The broader crypto market remains bullish, but it has entered a period of elevated volatility near recent highs. Continued ETF inflows, improving AI-related sentiment, and catch-up gains among major altcoins are providing support for bulls, while hotter PCE data, rebounding oil prices, and Warsh’s speech remain the biggest near-term uncertainties.

From a trading perspective, waiting for confirmation at key levels may be preferable to chasing prices after consecutive gains. For BTC, the key levels to watch are a confirmed breakout above $83,000 and support around $78,000. Higher-beta assets such as SOL and ETH will depend more heavily on whether BTC can continue consolidating near its highs. If BTC holds above $83,000, major altcoins may see further catch-up gains. If BTC falls below $78,000, reducing leverage and position sizes may become a priority.

BTCC is currently offering its “First Copy Trade, Losses Covered” promotion. New users can try following strategies from experienced traders, but position sizing remains important, especially in highly volatile markets where excessive leverage can amplify risk.

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Macro: Markets Await Warsh’s Speech Today

U.S. PCE inflation rose 3.7% year over year in July, slightly above market expectations, while core PCE increased 3.3%, indicating that inflationary pressures have yet to fully ease.

Federal Reserve officials remain divided over whether to raise interest rates, shifting market attention to Fed Chair Kevin Warsh’s speech at the Jackson Hole Economic Policy Symposium at 10:00 a.m. ET on Friday.

This will be Warsh’s most closely watched public speech since taking office. Treasury yields remain elevated and inflation is still above target, while markets remain uncertain about the conditions under which the Fed could tighten policy further. A dovish signal from Warsh could push BTC toward another test of $83,000. If he instead emphasizes inflation and the risk of further rate hikes, technology stocks and high-beta altcoins could come under pressure first.

Risk Warning: Some of the views in this article are drawn from public media sources and are for reference only. They do not constitute any investment advice or trading recommendation. Markets involve risks, and trading should be approached with caution. Please ensure you have appropriate risk controls in place.