Bitcoin fell 3% over the past 24 hours to $77,955 after briefly climbing to $81,479 late Thursday, its highest level since May, before dropping to an intraday low of $76,846. The move left Bitcoin up just 0.7% for the week as broader risk assets weakened.
Fed Chair Kevin Warsh said at Jackson Hole that inflation remains above target and that the Fed still has "work to do," with 12-month PCE at 3.7%. Gold dropped 2.4%, while the S&P 500 and Nasdaq erased early gains and turned negative. Ether fell 3.2% to $2,443, Solana lost 3.1% to $105.57, and XRP declined 4.5% to $1.40.
Despite the pullback, spot Bitcoin ETFs recorded $242.3 million in inflows on Thursday and $1.13 billion for the week. Polymarket odds showed a 69% probability of a September hold and a 28% chance of a quarter-point rate hike.
Bitcoin Slides 3% as Hawkish Fed Remarks Weigh on Risk Assets
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