Bitcoin Pulls Back to $77,557, with Approximately $481 Million in Liquidations Across the Market in 24 Hours

Odaily Planet Daily News: After Federal Reserve Chairman Warsh signaled a hawkish stance at the Jackson Hole annual meeting, Bitcoin spiked and then retreated, falling to $76,877 on Friday at one point—a pullback from the overnight high of $81,455—before eventually closing at $77,557, down 3.39% on the day. Bitcoin recorded double-digit gains earlier this week, but the $81,000 to $82,500 resistance zone once again capped the upside. Warsh stated that the pace of U.S. inflation decline remains insufficient and that work still needs to be done before the 2% inflation target is achieved, leading the market to raise expectations for a September rate hike. CME FedWatch data shows that the probability of a September rate hike rose from 35.4% the previous day to 55.7%. Over the past 24 hours, approximately $481 million was liquidated across the market, with long liquidations exceeding $360 million. Prediction market data shows that traders currently assign a 77% probability to Bitcoin reaching the next major target of $84,000, and a 23% probability of a drop to $55,000, with Friday's pullback not yet changing this ratio. U.S. spot Bitcoin ETFs have seen net inflows for eight consecutive trading days as of Wednesday, with cumulative net inflows of approximately $2.8 billion—the longest consecutive inflow streak since April. Bitcoin's RSI stands at around 69.7, not yet entering the extremely overbought zone that previously triggered pullbacks. Should it decline further, the $73,670 to $75,157 zone will become a key defense level for bulls; reclaiming the $81,000 to $82,500 range could open up room for new highs. With Warsh downplaying forward guidance, the market lacks a clear policy path ahead of the next rate-setting meeting, and Bitcoin may continue to be affected by volatility driven by inflation data and shifts in rate expectations.