Warsh Pledges Tighter Policy, Bitcoin Tumbles Below $80,000

Bitcoin prices slipped below $80,000 on Friday after Federal Reserve Chair Kevin Warsh pledged to bring inflation back under control. In a statement, Warsh emphasized that financial conditions are not restrictive and stressed that inflation must move clearly toward the Fed's target.

This move was seen as a cooling of some of the week's risk-on momentum, with short-term Treasury yields rising in response to Warsh's comments. The increase in yields pushed Bitcoin prices lower, but they remain well above levels seen earlier this month.

Warsh's statement reinforced expectations that policy could stay tighter for longer, which had a modest impact on the broader crypto market.