Forecast Trend Report by Period
Bitcoin paused after surging more than 20% last week, with markets turning their focus to Federal Reserve Chair Kevin Warsh’s Jackson Hole speech later this week.
Bitcoin traded little changed at just above $77,100 during Asian morning hours on Aug. 24, CoinDesk reported. The cryptocurrency is up more than 21% over the past week. With inflation pressures from high oil prices persisting and long-term Treasury yields rising, investors are watching for any signal from Warsh on the future path of interest rates.
Altcoins also posted strong gains last week. XRP jumped more than 46% over the period to near $1.50, while Hyperliquid climbed more than 35% to $80. Ether rose about 28% to $2,442, and Dogecoin traded around $0.09 after gaining 30%. Solana also advanced 24% over the week.
Asian stocks, by contrast, were weaker. The MSCI Asia Pacific Index fell 1%. Samsung Electronics slumped 8.7% after its shareholder return plan worth as much as 110 trillion won, or about $79.7 billion, failed to meet market expectations. In Hong Kong, Alibaba fell 9.6% after announcing plans for a capital increase of about $10.2 billion. Japan’s SoftBank dropped 4.9% after unveiling plans to issue 1 trillion yen of corporate bonds for retail investors.
Nvidia’s earnings report due this week is also poised to be a major driver for risk assets. Concerns have been mounting over returns on Big Tech’s heavy investment in artificial intelligence, and Nvidia’s guidance and outlook for AI demand could sway not only technology shares but broader investor sentiment.
US Treasuries meanwhile advanced ahead of Treasury Secretary Scott Bessent’s announcement of a fiscal consolidation plan. The 10-year Treasury yield fell 2 basis points to 4.71%, while Brent crude declined 1.3% to about $93.20 a barrel.
