Bitcoin Trades Tensely Ahead of Warsh Speech and Jobs Report

Bitcoin has been trading nervously around the $80,000 mark as investors await key economic events. The cryptocurrency reached an intra-week high of $81,000 on the back of a weaker U.S. dollar but saw its upside capped by rising oil prices and inflation concerns.

The market's focus is now shifting to Fed Chair Warsh's speech at the Jackson Hole Symposium, scheduled for late night Japan time on August 28. A dovish tone from Warsh could provide a tailwind for buying, while a hawkish stance could heighten inflation concerns and weigh on risk assets.

Additionally, the August U.S. Employment Report is due next week, with investors looking to see if employment data confirms a slowdown in hiring. If the jobs data shows continued weakness, expectations for rate hikes could recede further, providing a boost to Bitcoin.