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Bitcoin drops 3% to $77K after Fed's hawkish speech raises rate hike fears

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

Bitcoin fell 3% to $77,000 following Fed Chair Kevin Warsh's hawkish speech at Jackson Hole, signaling ongoing inflation fight and increasing September rate hike odds to 57%. The tech-heavy Nasdaq and S&P 500 also declined, reflecting market caution. Bitcoin's recent rally stalled below $80K, with traders seeking downside protection amid renewed Fed tightening concerns. The price could dip toward the 200-day moving average at $69.3K if rate hike fears deepen, but may find support at $80K if the debasement trade narrative continues.

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