Crypto
Bitcoin Surges Above $79K as Rate Hike Odds Soar
Bitcoin has rallied above $79,000 after Federal Reserve Chair Kevin Warsh's hawkish speech at Jackson Hole shifted expectations for a September rate hike. The odds of a 25-basis-point increase rose to around 60%, up from about 35% before the remarks.
The upcoming U.S. jobs report on September 4 is now the next key catalyst, with a stronger-than-expected reading likely to reinforce expectations for tighter monetary policy and pressure Bitcoin further. A weaker report could ease rate concerns and support a market rebound.