What Happened to Bitcoin After the Jackson Hole Symposium?

<p>&nbsp;The price of Bitcoin remained flat around the $26,000 level for the past week as digital asset investors await the market's reaction to the Jackson Hole symposium event that took place last week.</p><p><br /></p><p>Focusing on Federal Reserve (Fed) Chairman Jerome Powell for the central bank's further monetary policy guidance, he stated that higher interest rate hikes are still needed to bring inflation down to target levels.</p><p><br /></p><p>The financial market saw an interesting reaction where the US dollar showed a strengthening with Powell's hawkish statement.</p><p><br /></p><p>However, the crypto market seemed to be unreactive with price movements remaining flat until the start of the week.</p><p><br /></p><p><br /></p><p>Last Thursday, the price of Bitcoin was seen showing a decline again to the level of $26,000 after the previous increase reaching around $26,800.</p><p><br /></p><p>Crypto analyst CrediBULL gave the opinion that there is no major factor that can support the current bullish movement of the market.</p><p><br /></p><p>If it passes the critical level at $28K, the Bitcoin price is at risk of falling below the $20K level, and can drop to $12K or $10K.</p><p><br /></p><p>For the first week of September, the US Securities and Exchange Commission (SEC) is scheduled to deliver updates on several spot Bitcoin ETF filings including BlackRock.</p>