Bitcoin's next test 📈

With Bitcoin surging in recent days, analysts point to the next key level at $80,000 as a crucial test—and urge caution.

Author

Stephen Graves
August 24, 2026

📝 What you need to know

With Bitcoin surging on the back of bond buybacks, renewed pressure on the Clarity Act from the White House and ETF inflows, all eyes are on its next test. Analysts pointed to the $80,000 level as a crucial hurdle as the market "seems to be forming a consensus around the bottom range"—though they refused to rule out the possibility of a bull trap.

Markets are awaiting Fed Chair Kevin Warsh’s inaugural keynote at the Jackson Hole symposium, which is set to be an early indicator ahead of the Fed's September 16 rate decision. The CME’s FedWatch tool now puts a 42% chance on a rate hike, while traders on Myriad, owned by Decrypt's parent company Dastan, are more dovish, pricing a 25 basis point increase at 33%.

Bitcoin's Next Test Is $80,000 as Jackson Hole Meeting Looms

Kevin Warsh gives his first Jackson Hole keynote as Fed chair on Friday, with futures now pricing a September rate hike at 42%.

Bitcoin · BTCAugust 24, 2026
$79,572
▲ 2.8% past 24 hours
View live price

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📊 Myriad Insight of the Day

Fed Decision in September?
No Change 69%Any hike 29%3% Any cut
   
Why it matters
The market has repriced meaningfully since publication: hike probability collapsed from 34% to 26%, with No Change strengthening to 69%. Volume has grown 158x to $21.4K. CME FedWatch tracked a parallel dovish shift, from 82% hike a month ago to 38.4% today—leaving Myriad more dovish than the mainstream futures market. Fed Chair Kevin Warsh delivers his first Jackson Hole keynote Friday morning, ahead of the September 16 FOMC decision.
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