Bitcoin Again Flirts With $81,000 Ahead of Fed’s Jackson Hole Meeting

According to Bitcoin Magazine, bitcoin approached the $81,000 mark on Thursday before dropping slightly, trading at $80,236 after reaching $80,793 earlier in New York. The cryptocurrency rose more than 2% over a 24-hour period, bringing its weekly gains to 10%.

Bitcoin Magazine reports that the price increase precedes Federal Reserve Chair Kevin Warsh's keynote speech on Friday at the Jackson Hole event in Wyoming. Central bankers, policymakers, and academics are gathering to discuss financial innovation, payments, and policy, with Warsh expected to address digital payments and cryptocurrencies. This marks Warsh's first major speech as Federal Reserve chairman.

Reporting by Bitcoin Magazine notes that bitcoin's recent run began after positive regulatory news and an announcement from the U.S. Treasury. Although a vote on the Clarity Act was delayed to September, President Donald Trump urged lawmakers to pass the legislation. Additionally, U.S. Treasury Secretary Scott Bessent announced that the department would double long-dated bond buybacks, which sent yields down and supported risk-on sentiment for non-yielding assets like bitcoin.