Bitcoin price at $77K: What could trigger the next move?

Bitcoin entered Monday, Aug. 24, near $77,364 after one of its strongest weeks since 2024. Summary Bitcoin trades near $77,364 after gaining 22.1% across seven days and testing $80,000 last week. July PCE inflation and revised second quarter GDP arrive together Wednesday at 8:30 a.m. ET. Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole keynote Friday at 10 a.m. June core PCE inflation stood at 3.3%, remaining above the Federal Reserve’s 2% objective rate. Second quarter U.S. growth was estimated at 1.5%, slowing from 2.1% during the first quarter. The cryptocurrency gained 22.1% over seven days and briefly approached $80,000 before its momentum slowed, according to current Bitcoin market data. The rally lifted Bitcoin from approximately $64,000 within several sessions. Traders must now navigate three U.S. events that could influence Treasury yields, the dollar and demand for risk assets: July inflation data, revised economic growth and Federal Reserve Chair Kevin Warsh’s Jackson Hole address. Bitcoin faces a combined inflation and growth test The Bureau of Economic Analysis will publish July’s Personal Consumption Expenditures Price Index on Wednesday at 8:30 a.m. ...