Warsh's Hawkish Comments Send Bitcoin Plummeting Below $78,000

BTC plunged to $78,442 after Federal Reserve Chair Kevin Warsh delivered hawkish remarks at the Jackson Hole Economic Symposium.

Warsh downplayed recent CPI and PCE improvements, stating inflation hasn't 'meaningfully improved', which sent market expectations for a September interest rate increase surging to 59%.

The U.S. dollar benchmark strengthened by 0.5%, while Bitcoin experienced a 3.4% decline to approximately $77,494.