Bitfinex says Fed hawkish signals trigger Bitcoin pullback, while spot demand supports market structure
AI Market Summary
Bitfinex notes BTC held above 77,100 despite hawkish Jackson Hole signals that lifted September hike odds to 57%. The pullback from above 81,000 appears driven more by macro tightening than leverage excess, while strong spot demand persists: nearly $1B net inflows to US spot BTC ETFs and sustained ETH product inflows. Elevated PCE inflation and widening deficits keep rates risk high, capping near-term risk appetite.
Impact level
● High
Affected assets
BTC/USDT+1.04%
AI Insight · BTC/USDTAI Insight
● Neutral
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Bitfinex said Bitcoin held above $77,100 even after Federal Reserve Chair Warsh delivered hawkish remarks at Jackson Hole that lifted the probability of a September rate hike to 57%. U.S. spot Bitcoin ETFs recorded net inflows of nearly $1 billion last week, while Ethereum investment products posted 10 straight days of net inflows totaling $815.7 million. On the macro front, U.S. PCE inflation rose to 3.7% and annualized private demand growth in the second quarter was 4.2%, alongside a widening deficit of $1.8 trillion. Bitfinex said ETF activity and stablecoin liquidity continue to support prices, but rate-hike expectations are capping upside.
