Bitcoin’s failed $81,000 breakout just put $75,000 back on the table

Bitcoin trades near $78,000 heading into the weekend, sitting almost between $77,000 support and $80,000 resistance after a sharp rejection from above $81,000 hit on Aug. 28.

A confirmed break below $77,000 opens the mid-$75,000s, while a reclaim of $80,000 puts the roughly $81,300 high from Aug. 28 and the $82,000 to $83,000 zone back in range.

Bitcoin reversed its Aug. 28 intraday high once Kevin Warsh's Jackson Hole remarks lifted September rate-hike odds to around 55% from roughly 40% before the speech. Warsh said the Fed still had work to do if inflation failed to return toward its target.

That repricing put Bitcoin back below $80,000 by the close, turning a level buyers had briefly reclaimed back into resistance and leaving $77,000 as the immediate line traders now have to defend.

Friday cleared a major Bitcoin positioning anchor

Roughly 81,700 Bitcoin options worth about $6.44 billion expired on Deribit Friday at 08:00 UTC, removing a positioning cluster that had helped keep price anchored near key strikes through the week.

Calls outnumbered puts by a ratio of 0.83, with the largest call interest concentrated around $75,000 and $80,000, the same two levels now framing the weekend's downside and upside cases.