Handelsblatt Live: Jackson Hole: US-Börsenexperte Koch analysiert die Reaktionen auf das Notenbankertreffen

Fed Chair Kevin Warsh is scheduled to deliver his inaugural Jackson Hole keynote speech on August 28 at 10:00 a.m. ET. Inflation, interest rates, and the Federal Reserve's approach to the bond market are topics of interest. Markets currently anticipate no rate change at the September meeting, with a 70% probability according to prediction market Kalshi.

This comes after Treasury Secretary Scott Bessent announced a doubling of long-dated bond buybacks from $2 billion to at least $4 billion per operation beginning September 9. Investors are looking for indications of whether the Fed could support efforts to contain long-term yields, which can impact Bitcoin demand. Bitcoin prices surged from around $64,000 to nearly $80,000 ahead of Warsh's speech.

Sygnum CIO Fabian Dori noted that the rally was not driven solely by crypto, highlighting the U.S. Treasury's decision to double its long-dated bond buybacks, which temporarily reduced yields and boosted risk assets. The next test is whether the expanded buybacks and the wider liquidity backdrop confirm what the market has already priced.

Analysts have raised MicroStrategy's price target by 35%. Amid this backdrop, an unidentified Bitcoin holder transferred nearly $912 million worth of BTC (11,499 BTC) just hours before Warsh's speech. The transfer, recorded at 9:53 a.m. UTC on August 28, moved the entire balance to a single new address. While there is no evidence that this transfer represents a sale, large transfers often draw attention around major Federal Reserve events as traders can reposition ahead of expected volatility.