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Bitcoin falls below $78,000 after Kevin Warsh’s Jackson Hole remarks

Bitcoin last traded at $77,955 on Coinbase after dropping 3% over 24 hours, while Ether slid to $2,442.56.

Reported · Written up by our desk · Market Structure

Bitcoin slid below $78,000 on Friday afternoon, as investors interpreted Federal Reserve Chair Kevin Warsh’s first Jackson Hole keynote as a signal the central bank is more inclined to raise rates than cut them. According to The Defiant, the selling spread across risk assets, and bitcoin gave up nearly all of a weekly gain that had reached double digits.

Bitcoin was last reported at $77,955 on Coinbase, down 3.0% over the prior 24 hours but up 0.7% for the week. The article said the price had traded as high as $81,479.50 overnight and bottomed at $76,845.71 earlier in the day.

The Defiant also tied broader market moves to Warsh’s remarks, noting gold fell 2.4% and U.S. stocks turned lower after his address. The report said Warsh did not provide a specific rate path, and he emphasized that inflation measures remain above the Fed’s 2% target.

In crypto trading, Ether fell 3.2% to $2,442.56, The Defiant reported. Solana dropped 3.1% to $105.57, XRP fell 4.5% to $1.4001, while both remained flat to positive on the week.

Latest closeGold $4,157.80 ▲0.4%|Bitcoin $83,358.73 ▲1.9%|Solana $106.49 ▲0.9%

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