🇺🇸 Why Bitcoin plunged after Warsh’s speech at Jackson Hole—and what happens next
- Bitcoin fell from above $81,000 to below $77,000 following the “hawkish” remarks by Fed Chair Kevin Warsh at Jackson Hole, signaling the likelihood of interest rates rising.
- Warsh stressed that inflation is still too high and the Fed’s 2% target is “steadfast and unchanged,” boosting expectations for higher rates and pushing U.S. Treasury yields higher.
- The market reacted negatively, with BTC and other risk-sensitive assets declining across the board, as market conditions shifted away from the factors that previously supported Bitcoin’s rally.
Source: CryptoPotato
🌍 Updated by GemCrypto
$BTC
#Bitcoin #Crypto
- Bitcoin fell from above $81,000 to below $77,000 following the “hawkish” remarks by Fed Chair Kevin Warsh at Jackson Hole, signaling the likelihood of interest rates rising.
- Warsh stressed that inflation is still too high and the Fed’s 2% target is “steadfast and unchanged,” boosting expectations for higher rates and pushing U.S. Treasury yields higher.
- The market reacted negatively, with BTC and other risk-sensitive assets declining across the board, as market conditions shifted away from the factors that previously supported Bitcoin’s rally.
Source: CryptoPotato
🌍 Updated by GemCrypto
$BTC
#Bitcoin #Crypto
