Bitcoin Faces Macro Test as Warsh Highlights Sticky Inflation Metrics

Bitcoin's price slipped below $80,000 after reaching $81,280 overnight as Federal Reserve Chair Kevin Warsh highlighted sticky inflation metrics in his Jackson Hole speech.

The 54% share of the personal consumption expenditures basket that rose faster than 3% over the past year has become a new macro test for Bitcoin to defend against.

Warsh's remarks gave traders a clearer standard for judging the rebound's rate risk, and US-traded spot Bitcoin ETFs absorbed over $1.1 billion in four completed sessions through August 27.