August 28: Bitcoin Still Can’t Hold $80K as AI Infrastructure Creates a New Investment Trade
Bitcoin got as high as roughly $81,300 overnight and still couldn't maintain $80K. The battle is getting clearer. ETF demand remains strong, with another $242 million entering U.S. spot Bitcoin ETFs Thursday and roughly $3 billion arriving during nine consecutive positive sessions, but traders keep taking profits above $80K. The real breakout probably requires Bitcoin to turn $80K into support and then clear roughly $81K-$83K.
The biggest macro catalyst today is Kevin Warsh at Jackson Hole. Treasury yields are still elevated, inflation remains uncomfortable, and markets are even considering…
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