**Bitcoin Eyes Jackson Hole for Market Cues**

Bitcoin (BTC) hovered around intraday highs on August 23, as traders awaited the U.S. Federal Reserve's Jackson Hole symposium. The spotlight is on Fed Chair Jerome Powell's speech at 10am ET, which could signal future financial policy changes.

Markets are betting on a 100% chance of interest rate cuts starting in September, with debates on whether the cut will be 25 or 50 basis points. However, some experts, like former Fed official Lou Crandall, suggest Powell may not provide clear guidance this early.

Historically, rate cuts haven't guaranteed immediate BTC price jumps. In 2019, BTC saw a slight decline during rate cuts, only to surge later due to the COVID-19 crash and subsequent monetary easing.

Currently, BTC/USD is testing resistance at $62,000. Analysts predict a breakout to $64K-$65K if it surpasses this level, but consolidation if it fails. Traders should stay cautious and conduct their own research.