Bitcoin tumbled 3.3% to $77,678 on August 29, 2026, after Federal Reserve Chair Kevin Warsh's Jackson Hole speech drove rate hike odds from below 50% to 68%. 
Here is exactly what Warsh said:
"We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do," Warsh said. He also stressed that the Fed needs "clear market signals, as unfiltered as possible" and pushed back against excessive reliance on Fed guidance saying investors should form their own expectations on growth, employment, and inflation.
The selloff accelerated, pushing BTC to a session low of $76,845 at 12:25 p.m. ET before buyers stepped in. Ethereum fell 3.2% to $2,442, Solana dropped 3.1% to $105.57, and XRP lost 4.5% to trade near $1.40.
The move came alongside $6.4 billion in options expiry on CME Group that same morning, removing a natural hedging buffer. Total crypto liquidations reached approximately $486 million.
BUT Here Is What the Bulls Are Pointing To:
Bankless host Ryan Sean Adams and venture capitalist Haseeb Qureshi say the rally may have more room to run. Qureshi sees Bitcoin's late June low near $58,000 as likely the cycle bottom, and options markets imply a wide year end range, with Bitcoin potentially reaching $100,000.
The combination of ETF demand and short liquidations helps explain the scale of August's rally. A sustained break above resistance could put Bitcoin's next test in the $95,000 to $100,000 range.
Key levels to watch:
Support: $76,500–$77,000 → $75,000. Resistance: $80,000 → $81,000 (50-week MA).
#Bitcoin #JacksonHole #WarshSaysInflationIsFedTopFocus #FedReserve #BTCPriceForecast
