Crypto Markets on Edge Ahead of Warsh's Jackson Hole Speech

Crypto markets are bracing for the upcoming speech by Fed Chair Kevin Warsh at the Jackson Hole economic symposium. The event comes amidst sticky PCE-based inflation and a spike in longer tenor bond yields, attributed to concerns over the fiscal situation and large public debt.

The recent buyback announcement by the U.S. Treasury helped ease longer tenor bond yields and propelled Bitcoin to a high of $81,347 during the past 24 hours. However, the cryptocurrency market capitalization has slipped mildly from the flatline.

Bitcoin's dominance in the crypto market stands at 59.7%, while Ethereum accounts for 11.3%. The CMC Crypto Fear and Greed Index has dropped to 81 (Extreme Greed) from a yearly high of 82 recorded a day earlier.