Warsh's Hawkish Tone Sends Bitcoin Price Reeling

Bitcoin's price retreated by around 2-2.5% over the last 24 hours, settling at $77,588 to $77,984 per unit as of August 29, 2026.

The decline comes after a hawkish speech from Federal Reserve Chair Kevin Warsh at the Jackson Hole Economic Policy Symposium on Friday, which saw him stress that the U.S. central bank has 'work to do' and that forward guidance had 'overstayed its welcome.'

This shift in tone sent Treasury yields up, with precious metals like gold logging modest declines.

Despite the setback, August remains a strong inflow month for bitcoin, with spot bitcoin exchange-traded fund (ETF) demand seeing nine straight days of inflows before Friday's $202 million exit.