Bitcoin Retreats Toward $78,000 as Fed's Warsh Downplays Cooling Inflation

Bitcoin retreated to around 78,400 dollars on Friday, August 28, 2026 (6 Shahrivar 1405), after Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium. According to Cointelegraph, bitcoin had climbed near 80,000 dollars earlier the same day, but the rally stalled and prices fell after Warsh remained skeptical of recent, softer US inflation readings.

The pullback coincided with a roughly 3 percent drop in global gold prices following the same speech, a sign that both risk assets and safe havens were hit as markets raised the odds of a Federal Reserve rate hike at its September meeting.