Warsh Inflation Warning Sends Bitcoin Below $79,000

BTC slipped below $79,000 as Federal Reserve Chair Kevin Warsh highlighted concerns over inflation. The price dip occurred while gold declined and major US stock indexes showed minor changes.

Warsh's speech emphasized that the summer's inflation reports were better than expected but noted that underlying trend had not changed meaningfully. He reaffirmed the Fed's 2% personal consumption expenditures (PCE) inflation target as 'firm and fixed.'

The recent high around $81,455 kept Bitcoin within an ascending four-hour channel. The 50-period simple moving average is rising beneath the formation near $77,800, providing a buffer above longer averages.