Warsh's Hawkish Comments Spark Bitcoin Sell-Off

The price of Bitcoin has dropped to $77,901.87, down 3.1% over 24 hours, dragging Ethereum and XRP lower after a hawkish message from Fed Chair Kevin Warsh at the 2026 Jackson Hole Symposium.

Warsh described the Fed's 2% price stability target as 'a firm, fixed target,' adding that delivering stable prices is the Fed's job, 'no excuses.'

This has put a September rate hike back on the table, with odds of the Fed holding rates steady falling from 71% to 50%, while the probability of a 25 basis point hike jumping from 30% to 49%.

Michaël van de Poppe notes that the market appears to have flushed out downside liquidity, and he doesn't expect Bitcoin to continue falling sharply from here. He's now watching altcoins for potential relative strength as Bitcoin moves sideways.