Bitcoin Steadies Above $77,000 After 20% Weekly Jump as Markets Await Warsh’s Jackson Hole Speech

Bitcoin paused above $77,000 after surging more than 20% last week, with traders awaiting Kevin Warsh’s speech at Jackson Hole later this week for signals on the Federal Reserve’s rate path. CoinDesk reported on Aug. 24 that Bitcoin traded little changed in Asian morning hours at just over $77,100. The token remained up more than 21% over the past week. With inflation pressure from elevated oil prices persisting and long-term Treasury yields continuing to rise, Warsh’s message on the outlook for interest rates is a key variable for markets. Altcoins also logged sharp gains last week. XRP surged more than 46% to approach $1.50, while Hyperliquid climbed more than 35% to $80. Ether rose about 28% to $2,442, and Dogecoin traded near $0.09 after gaining 30%. Solana also advanced 24% over the past week. Asian stocks were weaker, with the MSCI Asia Pacific Index falling 1%. Samsung Electronics slid 8.7% after a shareholder return plan worth as much as 110 trillion won failed to meet market expectations. In Hong Kong, Alibaba dropped 9.6% after announcing plans for a roughly $10.2 billion capital raise. Japan’s SoftBank Group fell 4.9% after unveiling plans to issue 1 trillion yen of corporate bonds to retail investors. Nvidia’s earnings report due this week is poised to be a major driver for risk assets. Concerns have been mounting over returns on Big Tech’s heavy spending on artificial intelligence, and Nvidia’s outlook and comments on AI demand may shape not only technology shares but broader investor sentiment. Meanwhile, US Treasuries gained ahead of Treasury Secretary Scott Warsh’s announcement of a fiscal consolidation plan. The yield on the 10-year Treasury fell 2 basis points to 4.71%, while Brent crude dropped 1.3% to about $93.20 a barrel.