Bitcoin falls to $76,871 after Kevin Warsh's Jackson Hole remarks
bitcoin just slid to $76,871 after US Federal Reserve Chair Kevin Warsh doubled down on fighting inflation at the Jackson Hole symposium.
His tough talk spooked investors, pushing up Treasury yields and making risky assets like crypto less appealing.
For context, bitcoin is now sitting 40% below its last October all-time high of $126,000.
US spot bitcoin ETFs lose $201.9 million
US spot bitcoin ETFs saw $201.9 million pulled out on Friday, ending a nine-session streak of inflows.
Analysts are watching the $77,000 support level closely; Prateek Gupta, Head of Business at Mudrex, says closing above $80,000 this month is key for a comeback.
Even with recent turbulence (and more than 6,427 dormant BTC worth $507 million moved in August), bitcoin gained 1.92% over the past week and the overall crypto market cap holds steady at $2.63 trillion.
But with macro uncertainty hanging around, most traders are staying cautious for now.