Bitcoin Dips Below $78,000 as Crypto Market Corrects After Jackson Hole Comments

Bitcoin dipped below $78,000 on Saturday as the crypto market continued to correct after Federal Reserve Chair Kevin Warsh's comments at Jackson Hole. The cryptocurrency traded at $77,384, down 2.5% in the past 24 hours.

Ethereum fell 1.9% to trade at $2,430, while major altcoins like BNB, XRP, Solana, Hyperliquid, Dogecoin, and Cardano declined by up to 4.2%. Tron was an exception, gaining value in the process.

The global crypto market capitalisation edged down 2.57% to $3.07 trillion, according to CoinGecko. This decline came after Warsh said inflation remains above the Federal Reserve's 2% target and indicated that policy could remain restrictive if price pressures persist.