Bitcoin once returned above $82,000 during this round of general gains in the crypto market. CoinGecko data shows that BTC has risen by about 4% in the past 24 hours, with a cumulative increase of nearly 26% in the past month. However, the price has encountered some resistance around $82,100.

The rebound is related to the recovery of liquidity.

The market has made several attempts to rise in the past two weeks. Reports mention that the first significant rebound in late August occurred after Trump held crypto-related events at the White House, and at the same time, the U.S. Treasury Department increased its bond repurchase efforts.

The former drove a recovery in market sentiment, while the latter was seen as releasing more liquidity into the market. The combination of these two factors propelled Bitcoin and a broader range of crypto assets higher.

There was a rebound after Jackson Hole's speech.

However, this round of gains was not a one-way upward movement. After Federal Reserve Chairman Kevin Warsh delivered a hawkish speech at the Jackson Hole Symposium, the crypto market experienced a temporary decline.

At that time, he warned of upward pressure on inflation, which led the market to raise expectations for interest rate hikes. After interest rate expectations tightened, risky assets came under pressure, and Bitcoin also saw adjustments as a result.

Still focusing on inflation and fiscal policies in the future.

• Whether the US Treasury Department will subsequently replenish funds and recall the liquidity previously released
• Whether inflation data is higher than expected further boosts expectations for interest rate hikes

If fiscal liquidity declines, some funds may withdraw from Bitcoin and other crypto assets. If inflation continues to rise, the pressure for interest rates to increase could also suppress market performance once again.