Key takeaways from our latest Eyes on the Market:

1) Flat week across BTC and equities. BTC open $77.7K, high $81.4K on Thursday, close $77.6K. Flat on the week. ETH lost 1.89% to $2.4K and total market cap held $2.6T. S&P and the Nasdaq barely moved.

2) Hike odds reversed. Polymarket went from 30% hike / 70% hold to 52% / 48% on Warsh's Jackson Hole keynote. FedWatch is more decisive at 62.6% / 37.4%.

3) The volatility breakout lasted a week. BVIV fell from 46.5 to 38.9, back to the 7th percentile of the past 12 months, through a hawkish Fed surprise.

4) ETFs saw $1.9B of inflows. BTC $924.5M, ETH $815.7M, SOL $142.7M, HYPE $56.8M. August is BTC's best month since October 2025 and its best August on record.

Read the full piece here.