August 27: Bitcoin Is Still Fighting $80K, but the Fed Could Change the Story
Bitcoin finally broke $80K, but it could not hold it. That makes today's price action a rejection, not a confirmed breakout. The good news is that Bitcoin has real demand underneath it: U.S. spot ETFs took in another $232 million Wednesday, extending their positive streak to eight trading sessions and roughly $2.8 billion. The bad news is hotter inflation has markets reconsidering Fed tightening just as Bitcoin is trying to turn $80K into support.
The most interesting story now is Kevin Warsh. His Fed philosophy isn't simply lower rates and more money. Warsh wants to shrink the Fed balance…
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