Bitcoin Holds Near $80,000 as Solana Leads Gains Ahead of Fed Chair’s Jackson Hole Speech

Bitcoin traded just under the $80,000 mark early Friday, adding nearly 2% over the previous day, as investors positioned themselves ahead of Federal Reserve Chair Kevin Warsh’s first major address at the central bank’s annual Jackson Hole gathering.

ETF Inflows Fuel Bitcoin’s Rally

The gains came alongside eight straight sessions of inflows into US spot bitcoin ETFs, totaling nearly $2.8 billion, making August the strongest month for such funds so far this year. Bitcoin has climbed 9% over the past week.

Solana and Other Major Coins Rise

Solana led gains among major cryptocurrencies, rising more than 4% on the day and roughly 20% for the week. Ether, XRP, and BNB also posted modest daily gains, while most major tokens finished the week higher. One notable exception dipped slightly.

Macro Factors in Play

Falling oil prices, following a diplomatic agreement easing tensions around a key shipping route, removed a potential inflation risk just as the Fed weighs its next move. Meanwhile, strong earnings guidance from a major chipmaker boosted broader stock markets. Traders are watching closely for signals on interest rate policy ahead of the September Fed meeting.