Blockchain Institutional Broadcast – 28 August 2026
Overbought Book Meets Warsh
BTC eased off $80k as a $6.4bn expiry cleared, but SOL's run and ETH inflows keep the leg alive into Jackson Hole.
BTC sits at $79,291, off 1.2% on the session after failing to reclaim $80k, with the day's $6.4bn options expiry, near a fifth of exchange open interest, settling below spot and pulling the tape back toward the strikes. It reads as a book-clearing pause, not a reversal: RSI(14) still stretched at 77.8, spot 15% above its 200-day. SOL is the standout, up nearly 10% since Wednesday's note to $105.95 and its own overbought extreme, leading majors as BTC catches breath.
The steady leg underneath holds. Thursday's session added $242m of spot ETF inflows, all but the smallest slice into ETH funds, the one non-mechanical bid supporting a book that has run hot.
Dealer hedging thickens toward $80-82k, where positioning caps the retest, keeping spot pinned into today's 14:00 UTC Warsh remarks at Jackson Hole, a symposium built around crypto's own turf for the first time. A dovish lean feeds the stretched book; a hawkish tilt hands profit-takers their exit. Overbought into a live speech, with the covered-short leg still needing spot demand to hold $78k.
August 28, 2026 127
