Bitcoin Braces for Warsh's Jackson Hole Debut: Will 2022 Repeat?

Kevin Warsh speaks at Jackson Hole on Friday, his first keynote as Federal Reserve Chair. Bitcoin traders have one question. Does this look like August 2022? The answer sits in eight years of price data, which shows only one of those speeches actually hurt Bitcoin.

What Powell’s 2022 Speech Did to Bitcoin Jerome Powell took the podium on August 26, 2022. He was blunt about fighting inflation and offered markets no relief. Bitcoin fell from $21,518 to $20,230 that day. That is a drop of 6% in a single session.

Likewise, the S&P 500 lost 3.4% in the same session. By August 28, Bitcoin sat 9% below its pre-speech level. That is the version traders fear repeating. Bitcoin (BTC) and S&P 500 (SPX) Performance Around Jerome Powell’s First Jackson Hole.

Source: TradingView Eight Years of Data Show 2022 Was the Outlier BeInCrypto measured Bitcoin’s move on every Fed chair keynote day since 2018. Bitcoin Performance Around Different Jackson Hole Speech The median reaction is a gain of 1%.