Bitcoin Falls 3% to US$77,838 After Fed Chair Warsh’s Speech
Bitcoin fell 3.01% to US$77,838 on Friday after Fed Chair Kevin Warsh's hawkish Jackson Hole speech revived rate-rise bets, with Latin America's stablecoin trade in focus. The post Bitcoin Falls 3% to US$77,838 After Fed Chair Warsh’s Speech appeared first on The Rio Times .
Bitcoin's price fell 3.01% to US$77,838 on Friday, August 28, 2026, following Federal Reserve Chair Kevin Warsh's speech at Jackson Hole. The hawkish remarks highlighted inflation concerns and led to a market-wide retreat. Other cryptocurrencies also declined, with Ethereum down 2.70% to US$2,443, Solana dropping 4.65% to US$104.13, and XRP falling 4.80% to US$1.3833.
The decline in Bitcoin was more pronounced than other coins, indicating a stronger reaction to the inflation concerns. Solana's drop came despite validators approving a proposal to cut future token issuance, following Charles Schwab's announcement of adding Solana, Avalanche, and Chainlink to its retail crypto offerings. The pullback was driven by Federal Reserve signals, as traders priced in possible rate rises.
The decline was also fueled by liquidations in leveraged positions, which intensified due to Bitcoin failing to stay above US$80,000 for the session. The ETF flows, which had stabilized the market near US$80,000, showed a decline, raising concerns about the long-term demand for cryptocurrencies. Latin America's crypto market remained focused on stablecoins, with the region accounting for more than 90% of exchange volume and stablecoins making up more than 90% of the total volume in Argentina and Brazil.
Despite the decline in Bitcoin, Solana's validators approved a proposal to double the annual disinflation rate and pull forward the terminal inflation rate, which could impact the cryptocurrency's future performance.
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