Bitcoin Reclaims Key Resistance Trendline as Fed's Jackson Hole Symposium Gets Underway

Bitcoin's (BTC) price has reclaimed its 50-week exponential moving average (EMA), a key resistance trendline that last saw a weekly candle close above it in November 2025.

The reclaim, which occurred at $77,752, comes as Bitcoin sees its best August gains in almost a decade, with the price up 22% month-to-date and nearing its highest levels since mid-May.

According to CryptoQuant, long-term holder profitability has moved from breakeven to +18.5%, while new money profitability rose from -1.4% to +12.7%, but 'new money' now has a breakeven point at $73,000, above both the short-term holder and long-term holder cost basis.

The Federal Reserve's Jackson Hole economic symposium gets underway this week, with chair Kevin Warsh set to deliver his first keynote speech since the July FOMC meeting. The event is expected to shed light on future interest-rate changes, a topic sensitive to crypto and risk assets.