Bitcoin rose 1.03% to $77,942 on Aug. 24, keeping the token inside a narrow $77,000–$78,000 band. The drift comes as traders prepare for Federal Reserve Chair Kevin Warsh's first speech at the Jackson Hole symposium later this week.
A tight range
Bitcoin has spent the last few days oscillating between $77,000 and $78,000. Monday's gain was a nudge, not a breakout. That kind of price action usually signals indecision. Without a fresh catalyst, there's little to push the asset out of its lane. The range has become a waiting point for traders who aren't ready to commit.
Warsh's debut
Warsh's appearance at the annual Jackson Hole gathering is the first time he'll speak as Fed chair. Markets will parse his words for any shift in the central bank's approach to interest rates. For bitcoin, that matters because the token has been tracking expectations on monetary policy. A hawkish tone could add pressure. A softer one might give it a lift.
What could break the range
The speech is the clearest catalyst this week. But there's no guarantee it moves the needle. If Warsh sticks to a familiar script, bitcoin could stay stuck in the band. A surprise in either direction, though, might push it out. For now, traders are holding their positions, and the market is quiet. That quiet won't last past the speech.
