Bitcoin moved higher on Friday, trading close to recent highs as investors remained cautious ahead of Federal Reserve Chair Kevin Warsh’s closely watched speech later in the day.
The world’s largest cryptocurrency rose 1.3% to around $79,882 by 02:12 ET (06:12 GMT). Bitcoin also remained within reach of the three-month high above $81,000 that it touched earlier this week.
Bitcoin was on track to gain roughly 2% for the week after rebounding strongly over recent sessions.
Bitcoin Benefits From Regulatory Optimism
The latest Bitcoin rally has been supported by growing optimism over regulatory developments in the United States.
Investors have also responded to intervention in the U.S. Treasury bond market, which helped increase demand for alternative assets such as Bitcoin and gold.
Crypto markets received an additional boost from strength in technology stocks this week. The rally followed stronger-than-expected earnings from Nvidia, which improved sentiment across risk assets.
However, uncertainty surrounding the U.S.-Iran conflict continued to limit overall risk appetite.
Concerns about the possibility of higher U.S. interest rates also kept traders cautious.
Warsh Speech Could Influence Bitcoin Prices
Federal Reserve Chair Kevin Warsh is scheduled to speak at the Jackson Hole Economic Symposium on Friday.
His remarks are expected to be closely monitored for clues about the future direction of U.S. interest rates and monetary policy.
Warsh has so far provided limited guidance on the Fed’s next moves. However, he has previously emphasized the central bank’s commitment to its 2% annual inflation target.
This week’s PCE price index, the Federal Reserve’s preferred inflation measure, showed that price pressures remained above the 2% target in July.
The data led markets to slightly increase expectations for another Federal Reserve rate hike.
Treasury Bond Buybacks Add Another Market Factor
Warsh’s comments will also come after recent intervention by the U.S. Treasury in the bond market.
Treasury Secretary Scott Bessent announced that the government would double the size of its bond buyback operations.
The move attracted attention across financial markets and contributed to increased interest in alternative assets.
Still, higher interest rates are generally considered a headwind for speculative assets such as cryptocurrencies. As a result, Warsh’s Jackson Hole comments could trigger volatility across Bitcoin and the wider crypto market.
Altcoins Move Higher Alongside Bitcoin
Most major altcoins also traded higher on Friday, following Bitcoin’s positive momentum.
However, gains across the broader crypto market remained relatively limited as investors waited for Warsh’s speech.
Ether, the world’s second-largest cryptocurrency, rose 0.3% to around $2,501. XRP gained 1.4%.
Solana was one of the strongest performers, jumping approximately 6%, while Cardano traded largely unchanged.
BNB gained around 1%.
Among memecoins, Dogecoin rose 1.4%, while the TRUMP token surged roughly 24%.
Overall, Bitcoin continues to trade near the important $80,000 level, with investors balancing positive regulatory developments and strong risk sentiment against interest-rate uncertainty and geopolitical risks.
