Bitcoin declined from $80,596 to $77,736, a drop of approximately $2,860 or 3.54%, driven by Fed Chair Warsh's hawkish Jackson Hole remarks.Not noise. Fed Chair Warsh's 'we have work to do' on inflation statement at Jackson Hole was the clearest hawkish signal markets have received since his appointment, pushing traders to raise September rate hike bets and triggering a synchronized pullback across Bitcoin and gold. Near-term risk is higher today than it was yesterday.
Bitcoin fell 3.54% to $77,736 after Fed Chair Warsh's Jackson Hole keynote leaned hawkish, with traders raising bets on a September rate hike following his 'we have work to do' comment on inflation.
BTC briefly hit $81,455 overnight, its highest since May 15, before the Warsh speech reversed gains, confirming the $80,000 zone as a meaningful resistance area.
Gold declined alongside Bitcoin on the same Fed catalyst, reinforcing that today's move is a macro-driven repricing rather than a Bitcoin-specific event.
RSI sits at 70.33, technically overbought, which adds mechanical selling pressure on top of the hawkish macro backdrop and increases the probability of further consolidation.
Network hashrate holds at 895.8 EH/s, near all-time highs, confirming that miner conviction remains intact regardless of near-term price weakness.
Market Snapshot
Market Cap
$1.56T
24h Volume
$35.91B
Dominance
59.0%
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