Will Bitcoin be at or above $78,000 on Aug 29?

Signal ended

Entry · NO76¢

PublishedAug 29

Aug 29 forecast

Bitcoin remains below the threshold after a sharp macro-driven selloff, so a qualifying Aug. 29 price is a long shot.

Bitcoin is close enough to the threshold for a sudden rebound to matter, but the latest readings remain below it after a steep reversal. The selloff accompanied rising Treasury yields, a stronger dollar, heavy long liquidations and renewed ETF outflows. Recent rally strength keeps an upside path open, yet failure to hold $80,000 and continued overhead supply make a qualifying Aug. 29 reading a long shot.

Points to NO

The latest observed range remained below $78,000, leaving Bitcoin dependent on a late rebound rather than simple price stability.
At 12:10 p.m. on Aug. 29, BTC/USD was $77,551.0406 after trading between $77,350.5774 and $77,891.8061 that day.
Sharp downward momentum makes another unsuccessful rebound more plausible before the day’s qualifying price is established.
On Aug. 29, Bitcoin was listed at $77,525.28, down 2.53% over 24 hours, while the daily table showed a 3.55% decline from Aug. 28.
Macro-sensitive selling remains a near-term headwind because higher yields and a stronger dollar triggered the break below the threshold.
On Aug. 28, Bitcoin fell below $78,000 as short-term Treasury yields and the U.S. dollar rose following Federal Reserve Chair Kevin Warsh’s Jackson Hole speech.

Points to YES

The threshold remains within reach because Bitcoin recently demonstrated enough upward momentum to trade well above $80,000.
On Aug. 25, Bitcoin traded at $80,323.24 after reaching $81,237.94 intraday and had risen 28% during August at that point.

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