Bitcoin Price Braces for Powell’s Jackson Hole Speech
Analysts are eyeing Federal Reserve Chair Jerome Powell’s upcoming Jackson Hole speech on August 22 for clues on monetary policy ahead of the September meeting. Managing Partner Ryan Rabaglia of Rise Capital warns that shifts in policy guidance could significantly affect Bitcoin price, which has seen profit-taking after historic highs. Another analyst, Bruni, cautions that a no-rate-cut signal would keep bearish pressure on the market. Traders are focused on the 200-day moving average—around $100,000—as a key support level. With uncertainty rising, market participants remain cautious, adjusting investment strategies based on Powell’s remarks, which could drive short-term volatility and shape longer-term Bitcoin price trends.
Bearish
Powell’s remarks at Jackson Hole often set the tone for Fed policy. Historical speeches that downplayed rate cuts or signaled further tightening have led to immediate downward pressure on Bitcoin price, as traders anticipate higher borrowing costs and reduced liquidity. For example, after the 2022 Jackson Hole speech, BTC dropped 8% within 24 hours when Powell emphasized the Fed’s commitment to combating inflation. Should Powell again signal no rate cuts in September, profit-taking momentum could extend, pushing price below the 200-day moving average around $100,000. In the short term, heightened volatility is likely as traders reposition. Over the long term, sustained tight policy may cap Bitcoin’s rally until clear easing signals emerge. Given this backdrop, the immediate market impact is expected to be bearish.