Market Focus on US Data and Bitcoin Technical Outlook Remain Positive with Caution

The focus in financial markets has shifted towards upcoming critical economic data releases and policy signals. In August, the US inflation data (CPI) and the Jackson Hole symposium at the end of the month will be decisive for the direction of global risk appetite. Particularly, the messages from Fed officials during Jackson Hole and clues about the September meeting can influence the movement in both equities and alternative investments. On the cryptocurrency side, historically, August and September tend to be weak or flat for Bitcoin, while October often brings strong recoveries. While this seasonal trend is worth considering, the current technical outlook is favorable for major cryptocurrencies. Bitcoin, with institutional buy-ins around the $110K-$115K range, is establishing a foundation, and the upside breakout potential remains intact. Expectations for ETF approvals and institutional adoption steps, such as the potential outcomes of spot Bitcoin ETF applications, support a positive outlook for the crypto market. However, macroeconomic developments like inflation and interest rate changes, as well as regulatory news, should be closely monitored. In summary, market volatility could persist in the coming week; it is advisable for investors to adopt cautious yet opportunistic strategies, considering both fundamental data and technical levels.