Bitcoin tapped $80,000, but traders remain cautious ahead of Fed Chair Warsh’s speech at Jackson Hole on Friday.

Notable Statistics:

• Coinglass data shows 90,734 traders were liquidated in the past 24 hours for $421.26 million.      
• SoSoValue data shows net inflows of $232.1 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $192.4 million.
• In the past 24 hours, top gainers include VeChain, Official Trump and Ethena.

Notable Developments:

• Solana Surges 5% as Charles Schwab Adds SOL, AVAX, LINK to Crypto Platform
• Bitcoin’s Big Test: The Supply Wall Between $81,000 and $86,000
• Scott Bessent (Un)Intentionally Made Two of Bitcoin’s Strongest Arguments, Bitwise Exec Says
• BlackRock’s Exec Says CLARITY Act Is ‘Less Critical’ for Bitcoin Other Cryptos

Trader Notes:

Daan Crypto Trades predicts that Bitcoin needs to break and hold $80,000, with a new higher high above $83,000 likely to trigger stronger FOMO, leverage and targets around $98,000.

KillaXBT highlighted that the failure to hold below $57,000 and weeks of consolidation above $62,000 suggest the bearish case has weakened. He sees $82,000+ as the only area worth considering a hedge short.

Michaël van de Poppe noted that the longer Bitcoin holds current levels, the less likely it is to revisit its lows, putting those odds below 15%.

Another leg higher could take BTC to $90,000, followed by a $70,000 to $90,000 range for two to four months before a potential move toward all-time highs.

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