Bitcoin Price Analysis: BTC Dips Below $113,000 Ahead Of Jerome Powell’s Jackson Hole Speech

Bitcoin (BTC) continues to struggle thanks to waning demand as investors brace themselves for Federal Reserve Chair Jerome Powell’s Jackson Hole speech. The speech could give clues about Fed policy and interest rate cuts. A hawkish tone could drag the flagship cryptocurrency lower, while a dovish stance could see prices climb higher. 

BTC is down 8% over the past week, and is marginally down during the ongoing session, trading around $112,370. 

US Commerce Official Buys Bitcoin 

US Secretary of Commerce Howard Lutnick has quietly been investing in sectors influenced by President Trump’s policies, including Bitcoin. The Trump administration announced on Tuesday that it was extending the tariff delay on China. Concurrently, the United States Commerce Department announced that it will introduce tariffs on over 400 products, including mobile cranes, wind turbines, motorcycles, railcars, and construction equipment. Trump’s tariff policies have created uncertainty, raising concerns about delayed growth and operational disruptions. Amid this upheaval, Trump administration officials, including Lutnick, have deepened their ties with crypto. 

Filings with the United States Securities and Exchange Commission (SEC) show that US Secretary of Commerce Howard Lutnick has been actively investing and divesting in sectors impacted by Trump’s tariff policies via his family-controlled firm, Cantor Fitzgerald. According to an August filing with the SEC, Cantor Fitzgerald has invested in a Fidelity Wise Origin Bitcoin Fund (FTBC), along with stocks of AMD, Tesla, Alibaba, and Robinhood. The company invested $120 million in FBTC and $116 million in Robinhood. Cantor’s other investments are either resistant to Trump’s tariff policies or directly benefiting from them, as seen in the case of Tesla. Bartlett Naylor, financial policy advocate at Public Citizen, stated, 

“When the Oxford English Dictionary next updates its conflict-of-interest definition, it’ll use Cantor Fitzgerald’s crypto ventures and the Lutnick connection as prime examples.”

Several other members of the Trump administration also have potential conflicts of interest. White House Crypto and AI Czar David Sacks sold $200 million in crypto investments at the beginning of Trump's term. However, Sacks got a waiver similar to Lutnick’s, claiming that the financial interests covered by the waiver are not substantial enough to affect the integrity of services to the government. 

Bitcoiner Falls Victim To Social Engineering Attack 

A Bitcoiner lost $91 million in a single transaction after falling victim to a social engineering attack. The stolen funds were then sent to a privacy-focused Bitcoin wallet, an investigation by blockchain investigator ZachXBT revealed. According to ZachXBT, the victim was tricked by impostors posing as exchange and wallet support. As a result, the victim lost 783 BTC in a single transaction. Blockchain data reveals the theft occurred on Tuesday, and the attackers began laundering the funds a day later by sending them to the privacy-focused Wasabi Wallet. 

“On Aug 19, 2025, a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated. The stolen funds began to peel off, and deposits to Wasabi were made by the threat actor. Coincidentally, this theft happened on the one-year anniversary of the $243M Genesis Creditor theft.”

Social engineering attacks trick users into parting with sensitive information like their private keys and passwords, allowing attackers to easily steal the targeted funds. However, ZachXBT ruled out any link with North Korean hackers. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is hovering around the $113,000 - $114,000 mark as markets wait for Federal Reserve Chair Jerome Powell’s Jackson Hole speech. Weak job data boosted market expectations. However, with tariff-driven inflation at higher-than-acceptable levels, investors could be disappointed when it comes to rate cuts. Nick Ruck, director at LVRG Research, stated, 

“The Fed faces a difficult balancing act — cut too soon and risk reigniting inflation, wait too long and growth risks deepen.”

Sentiment around the flagship cryptocurrency has dropped, with the Fear & Greed Index dropping to 44, the lowest in over two months. The slide mirrors BTC’s price action, which plunged below $112,000 earlier this week. Alex Kuptsikevich, market analyst at FxPro, stated, 

“Bitcoin fell to $112,500 in the morning, receiving temporary support when it touched the area of recent lows at the start of the month. At the same time, the day before, sales increased after a decline below the 50-day moving average — a bearish signal. Now, all attention is focused on whether there will be a pullback to a potentially stronger support area near $108,000. If there is no support there, a straight road to $100,000 will open.”

According to CryptoQuant, Bitcoin accumulation by the market has registered a sharp drop, falling from 174,000 BTC in July to 59,000 BTC. Institutional interest has also cooled, with Bitcoin ETFs scooping up a modest 11,000 BTC, the lowest since April. Corporate accumulation has also declined, with Strategy accumulating only 27,000 BTC over the past 30 days, compared to 171,000 BTC in November 2024. 

“Bitcoin demand is fading. Apparent demand dropped from 174K BTC in July to just 59K today. ETF buying also hit a 4-month low, while MSTR slowed sharply. Weak demand growth points to more consolidation ahead.”

BTC started the previous weekend in the red, dropping nearly 1% and settling at $116,683. Sellers retained control on Saturday as the price registered a marginal decline to $116,492. However, it recovered on Sunday, rising 2.42% to cross $119,000 and settle at $119,309. BTC reached an intraday high of $122,319 on Monday as bullish sentiment intensified. Despite the positive start, it lost momentum and settled at $118,701, ultimately dropping 0.51%. The price recovered on Tuesday, rising 1.19% to cross $120,000 and settle at $120,113. Bullish sentiment intensified on Wednesday as BTC rallied, rising nearly 3% to cross $123,000 and settle at $123,365. Despite the positive sentiment, the price tanked on Thursday, dropping over 4% to a low of $117,208 before settling at $118,389.

Source: TradingView

Sellers retained control on Friday as BTC fell 0.80% to $117,436. Price action was positive over the weekend as BTC registered marginal increases on Saturday and Sunday, settling at $117,488. The price was back in the red on Monday, dropping 1.02% to $116,286. Bearish sentiment intensified on Tuesday as BTC fell almost 3% and settled at $112,856. Despite the selling pressure, BTC recovered on Wednesday, rising 1.26% to reclaim $114,000 and settle at $114,276. However, it was back in the red on Thursday, dropping 1.57% to $111,964 before settling at $112,480. BTC has rallied during the ongoing session, and is up over 2%, having reclaimed $115,000 and trading around $115,100.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.