Bitcoin’s 80K breakout just ran into a macro test.

After Kevin Warsh’s Jackson Hole keynote leaned hawkish on inflation, markets pushed the implied odds of a September rate hike above 50%. BTC then slipped nearly 3%, falling from above 80,000 to roughly 79,200 before stabilizing in the 79,000 to 79,400 range.

That matters because the selloff hit right at the breakout area. Instead of a clean hold above 80,000, BTC got rejected as rate expectations tightened.

Now the market has a clear line in front of it. A strong reclaim of 80,000, backed by spot demand and steady ETF inflows, would keep 82,800 in play. If BTC loses 78,000, the next risk zone sits closer to 75,000 to 76,000.

With open interest and funding still elevated, the move from here looks more fragile than the headline rally suggested.