LONG (BUY)
Bitcoin (BTC/USD) 
โ ๏ธ Elevated volatility; 3/5 position size
TP
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79000 - 79200 
โบ Cryptocurrencies have recently been among the strongest beneficiaries of increasing investor concerns about a potential debt crisis. US Treasury Secretary Scott Bessentโs announcement last week of massive Treasury buybacks further strengthened signs of a broader pattern that could point toward an approaching debt crisis. Together with the Japanese government reducing its exposure to the US bond market and Bessentโs efforts to support the BoJ and the Japanese government in stabilizing the JPY, this is another strong signal.
โบ If this debt problem is not addressed seriously, it will continue to build and eventually reach a level where it becomes extremely difficult to control - or can only be managed through significantly more drastic and painful measures.
โบ Against this backdrop, and given the general expectation that the US debasement trade will continue, we see a strong outlook for Gold and cryptocurrencies.
โบ Bonds are likely to continue losing attractiveness, as their perception of being nearly 100% safe was one of the main reasons investors were willing to buy them even at relatively unattractive yields.
โบ Ahead of Warshโs speech in Jackson Hole, we are seeing cautious trading and some selling pressure in Bitcoin. The market expects hawkish comments. I believe Warsh wants to sound hawkish, but the market will not see a clear plan. This should significantly limit the upside potential for the USD and do little to ease concerns about a further acceleration of the debasement trade.
โบ We expect BTC to push back into the $80.4K - $81.4K range over the weekend.
โบ Gold continues to trade around $4,600, while Silver has broken above $70.00 and is now around 1.5% higher. This shows that Gold traders remain cautious ahead of Warshโs speech. Precious metals remain bullish.
Bitcoin (BTC/USD): Multiply your โstandard (EUR/USD)โ position size by approximately 0.40โ0.50x (40%โ50%). Cryptocurrencies should always be traded with caution. Short-term moves of 5% or more are possible at any time. 3/5 position size.
position code / 100% Transparency - 26082801A
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BTC fell back to session lows ahead of the Warsh's speech at the Jackson Hole Symposium.
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