World · Market · Global ·
Bitcoin slides below $78K as Fed signals continued inflation work
Bitcoin dipped below $78,000 after Federal Reserve Chair Kevin Warsh delivered a hawkish Jackson Hole keynote speech, telling traders the Fed still has work to do on US inflation trends rather than declaring victory over price pressures. The speech prompted traders to increase bets on a September rate hike.
Why it matters for the crypto market
The Fed's explicit commitment to further inflation fighting raises expectations for higher interest rates, which typically pressures risk assets including Bitcoin and crypto more broadly.
Source: CoinDesk
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