Bitcoin Recovers to $80,000 Amid TGA News and NVIDIA Earnings, Then Dips on Fed Chair's Inflation Caution

The weekly market report from SBI VC Trade for the week of August 23 to August 29 highlights that Bitcoin briefly reclaimed the $80,000 level, driven by reports of the U.S. Treasury utilizing approximately $950 billion from the Treasury General Account (TGA) for long-term bond buybacks and strong earnings from NVIDIA. However, the price subsequently declined following Federal Reserve Chair Jerome Powell's cautious stance on inflation.