Powell Poker, $112K BTC, and Solana’s Meme Machine Roars Back

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Hey Degens,

We’ve got a two-track market this week.

Macro on one side, Bitcoin fading into Powell’s Jackson Hole speech and memecoins on the other, Solana’s Pump.fun turning the money hose back on.

Add in softening rate-cut odds and a quiet, relentless corporate bid for BTC, and you’ve got the full vibe: nervous into Friday, greedy by Sunday.

TL;DR

• BTC dipped to ~$112.6K as traders braced for Powell’s Jackson Hole comments. If $112K holds, some see it as setup for the next leg up, not a reset.

• Cut odds cooled after CPI held at 2.7% YoY, and markets nudged September cut probability down to ~82% from >94% a week earlier.

• Corporates keep stacking: 297 public entities now hold ~3.67M BTC (over 17% of supply). Structural bid is real.

• Pump.fun is back on top: $13.48M in weekly revenue, 73.6% Solana launchpad share, $4.68B volume, 1.37M traders, 162K+ mints.

• Legal cloud, momentum anyway: Class action pegs $5.5B in losses; Pump.fun lifetime revenue hits ~$800M and keeps shipping.

THE RUNDOWN

Powell Watch, BTC Wobbles
Bitcoin tagged a two-week low around $112,565 as traders de-risk into Jackson Hole. One take: let the narratives settle, let liquidity return, and $112K becomes the springboard, not the trap.

Cuts, But Not Yet
With CPI at 2.7% YoY, markets dialed back September cut odds to ~82% from >94% a week ago. The hope: once cuts do land, money supply growth re-accelerates and the BTC bid revs into year-end.

The Quiet Whale: Corporations
297 public entities now sit on ~3.67M BTC (over 17% of supply). That’s 169 public firms, 57 private, 44 funds/ETFs, 12 governments. This isn’t noise, it’s a floor.

Pump.fun, Back in the Big Chair
After a July dip, Pump.fun just printed $13.48M weekly revenue—best since February—and reclaimed Solana launchpad dominance with 73.6% share, $4.68B volume, 1.37M traders, and 162K+ mints in 7 days.

Memecoin Tide Turns
Sector cap slid from $77.7B to $62.1B in early August, bounced near $75B, then cooled to ~$66B. Volatile, sure, but the faucet is on again.

Lawsuit Headwind, Builder Tailwind
Class action calls Pump.fun an “unlicensed casino” and tallies $5.5B in claimed losses. Yet lifetime revs are ~$800M, and the ship sails—complete with big-picture ambitions from Solana’s top brass.

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Main Event: Jackson Hole Sets the Table, Corporates Bring the Cutlery

This move into $112K isn’t out of the ordinary, people hate uncertainty.

Powell has the mic, CPI is stuck at 2.7%, and cut odds clipped.

If we hold $112K into Friday, that’s a constructive reset.

Bitget’s read lines up: let the story cool, let liquidity drift back, then trend resumes.

On the macro side, Bitwise research argues that once cuts start, curve steepening and money supply growth kick back in, which historically boosts risk assets, especially BTC.

The offset to macro nerves is structural: corporate and fund accumulation.

The count of public entities holding BTC has more than doubled since early summer to 297, with >17% of supply captured. That’s a persistent bid.

You don’t see it minute-to-minute on the chart, but you feel it every time dips get absorbed faster than your meme coin thesis.

Playbook:

• If $112K holds into the speech, bias is for a relief leg.

• If cuts get guided into September, that’s a green light into Q4.

• If Powell punts and guidance is hawkish, expect one more shake to find fresh buyers before the structural bid reasserts itself.

Deeper Cuts

Pump.fun’s Monetization Engine
The July revenue sag to $1.72M looked ugly, but the snapback to $13.48M in a week is the story.

Add 73.6% market share vs. LetsBonk’s 15.3%, and you’ve got a platform with serious retail gravity.

Lawsuit or not, the fee switch works when the crowd returns.

Memecoins Are a Liquidity Tell
The sector’s round-trip from $77.7B to $62.1B, then to ~$66B, shows how fast retail appetite toggles. Inflows follow vibes, and right now vibes are improving slowly. Keep one eye on BTC dominance, one eye on Solana fees and throughput.

Corporate BTC = Slow Grind Up
A bigger roster of public holders and funds doesn’t mean vertical candles every day—it means fewer air pockets. Think “ladder,” not “rocket.”

Macro is in the driver seat for a few more days, but the corporate bid is the seatbelt. Meanwhile on Solana, the meme machine is printing fees again. Keep risk tight into Friday, then let the market tell you the next chapter.

— DegenDen Team

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