Bitcoin Plunges 3% as Warsh's Hawkish Jackson Hole Speech Sends Crypto Market Reeling

The cryptocurrency market took a hit after Kevin Warsh's hawkish speech at the Jackson Hole event. Bitcoin (BTC) dropped 3% in the past 24 hours, with the overall crypto market cap falling 2.97%. Ethereum (ETH) and XRP also declined, dropping 2.7% and 4.89%, respectively.

The Jackson Hole conference is an international gathering where central bankers and economists share their views on monetary policy. Warsh's speech was particularly notable for its hawkish tone, which contributed to the market downturn.