Bitcoin Holds Near $79,000 Despite US Inflation Pressure; Jackson Hole in Focus

Bitcoin traded near Rs. 75.2 lakh on Thursday as the cryptocurrency market held around the mark despite pressure from hotter-than-expected US inflation data. Ethereum (ETH) was trading near Rs. 2.3 lakh, while major altcoins remained mixed as investors turned cautious ahead of key macroeconomic and policy events. According to market participants, sustained institutional demand, a weaker dollar, and improving on-chain accumulation continue to support Bitcoin. However, profit-taking and expectations of tighter Federal Reserve policy could limit near-term gains. According to CoinGecko data, Bitcoin traded near $79,100 (roughly Rs. 75.5 lakh), and Ethereum (ETH) traded near $2,500 (roughly Rs. 2.3 lakh).

The world's largest cryptocurrency witnessed a drop of 0.5 percent in the last 24 hours, as per the Gadgets 360 price tracker. Analysts said US spot Bitcoin ETFs attracted about $2.57 billion (roughly Rs. 24,544 crore) across seven consecutive trading sessions from August 17 to 25, taking August's total inflows to $3.03 billion (roughly Rs. 28,937 crore). However, hotter July PCE inflation has increased expectations of a possible September rate hike.

Major altcoins traded with mixed momentum on Thursday.

Binance Coin (BNB) was priced around $699 (roughly Rs. 66,777), while Solana (SOL) traded near $99 (roughly Rs. 9,500). XRP hovered around $1.4 (roughly Rs. 133), while Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.5), indicating that investors remained selective across major cryptocurrencies.

Jackson Hole Takes Centre Stage

Pointing to Bitcoin's latest consolidation and the continued strength of institutional demand, Prateek Gupta, Head of Business, Mudrex, said, “Institutional demand remains strong, with spot Bitcoin ETFs logging seven straight days of inflows and bringing August's total to $3.03 billion (roughly Rs. 28,937 crore). If the pace continues, August could beat October 2025's monthly record, while year-to-date ETF outflows have fallen to $2.26 billion (roughly Rs. 21,573 crore). Investors now await Nvidia's earnings and Fed Chair Kevin Warsh's Jackson Hole speech on Friday.”

Highlighting the role of institutional flows and the market's changing momentum, Avinash Shekhar, Co-Founder & CEO, Pi42, said, “Renewed spot ETF inflows, broader market participation and a weaker dollar are lending credibility to the recovery, although short-term consolidation around current levels would be healthy after such a rapid move. While projections of $100,000 (roughly Rs. 95.5 lakh) and beyond are gaining attention, prediction markets remain divided, indicating that the journey may not be linear. Investors should avoid chasing Bitcoin near resistance and consider staggered buying during pullbacks, while maintaining disciplined position sizes and stop-loss levels.”

Assessing Bitcoin's consolidation and the impact of institutional demand, Vikram Subburaj, CEO, Giottus.com, said, “Bitcoin's Short-Term Holder Cost Basis is near $70,000 (roughly Rs. 66.8 lakh). Accumulation has also improved across different wallet-size cohorts [...] The key near-term concern is inflation. July US PCE inflation came in at 3.7 percent year-on-year, increasing expectations that the Federal Reserve could raise rates in September. Markets currently assign roughly a 40-44 percent probability of a rate hike. Attention is now shifting to Jackson Hole for further policy signals.”

Overall, seven consecutive sessions of spot Bitcoin ETF inflows and improving on-chain accumulation suggest that underlying demand remains healthy, while profit-taking and expectations of a September rate hike could keep the market volatile. Attention will now turn to Jackson Hole and other market catalysts, with a move above $80,000 (roughly Rs. 76.4 lakh) potentially restoring momentum.