Bitcoin, which surged from $64,000 to nearly $80,000 before stalling around $77,000, faces a week packed with key US economic data. On Wednesday, the July PCE index release, the Fed’s preferred inflation gauge, is expected to show underlying inflation at 3.2% annually, still above the central bank’s 2% target. The same day, the second estimate of US Q2 GDP is forecast at 1.5% annualized, down from 2.1% in Q1. On Friday, Fed Chair Kevin Warsh will deliver his first keynote at the Jackson Hole symposium since his appointment, an event closely watched as three policymakers voted for a rate hike in July and long-term Treasury yields continue to climb, with the 10-year around 4.73% and the 30-year above 5.2%.
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