Bitcoin crossed the $81,000 mark on Tuesday, driven by a purge of over $7 billion in short positions in one week. On Wednesday, the crypto market lost more than $100 billion in market capitalization before rebounding Thursday thanks to U.S. ETF inflows. Bitcoin ETFs logged their eighth consecutive session of positive net flows, bringing August’s total haul above $3 billion. The Coinbase Premium indicator returned to positive territory for the first time in several days. On Friday, new Fed Chair Kevin Warsh delivers his first major speech at Jackson Hole, with federal debt approaching $40 trillion and PCE inflation at 3.7%.
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