Bitfinex Report Says Bitcoin Holds $77K–$78K Even As Macro Pressure Builds
TL;DR
- Bitcoin holds above the key $77,100 support level despite hawkish comments from the Fed chair at Jackson Hole.
- U.S. spot Bitcoin ETFs recorded nearly $1,000 million in net inflows last week, with sustained institutional demand.
- U.S. PCE inflation stands at 3.7% and markets raise the probability of a September rate hike to 57%.
The Bitcoin market absorbed last week’s macroeconomic pressure without surrendering critical levels. According to the weekly report from Bitfinex, BTC briefly surpassed $81,000 before pulling back following the restrictive-toned remarks that Federal Reserve Chair Kevin Warsh delivered at the annual Jackson Hole gathering. Despite the correction, Bitcoin held above the $77,100 support level, preserving a price structure of higher highs and higher lows.
One data point the report highlights as positive is the composition of August’s advance: the rally was driven primarily by spot purchases rather than excessive leverage. Open interest grew gradually, the basis remained relatively contained, and spot Bitcoin ETFs in the United States received nearly $1,000 million in net inflows during the week. Large holders reduced their balances since late June, while custodial wallets linked to exchanges and ETF platforms recorded increases, suggesting a rotation toward institutional structures.
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