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Bitcoin drops to $78,442 after Fed's hawkish remarks, despite strong August gains.

Market News
29 Aug 2026
Blockonomi
View Source
Bearish
pluang ai news

Bitcoin fell sharply to $78,442 following Federal Reserve Chair Kevin Warsh's cautious comments at the Jackson Hole Economic Symposium, where he downplayed recent inflation improvements and signaled a likely September rate hike. This hawkish tone increased market expectations for higher interest rates, causing Bitcoin ETFs to see $202 million in outflows after nine days of inflows. Despite the dip, Bitcoin still posted a strong 26.35% gain for August, its best monthly performance since 2017, supported by positive regulatory news and increased institutional interest. Analysts suggest a possible short-term correction before Bitcoin resumes upward momentum.

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