Three macro events seen shaping Bitcoin’s next move: PCE, Nvidia, Jackson Hole

Market attention is focused on three macroeconomic events that could shape Bitcoin’s next move after BTC recently topped $80K and entered a mild pause, CoinDesk reported. The first is the release of July personal consumption expenditures inflation data, which the U.S. Federal Reserve watches most closely. Analysts expect core PCE to rise 3.2% from a year earlier, and a reading above forecasts could revive concerns about Fed rate hikes and weigh on the market. The second is Nvidia’s second-quarter earnings report due Wednesday. As the 90-day correlation between Bitcoin and Nvidia has held above 0.5 since 2025, showing strong co-movement, strong results could bolster risk appetite across financial markets. The final variable is Federal Reserve Chairman Kevin Warsh’s speech at the Jackson Hole symposium on Friday. With Bitcoin having recently been supported by the U.S. Treasury’s expanded long-term bond buybacks, the market is expected to closely watch what stance Warsh takes on the Treasury’s market intervention moves.