Bitcoin Falls Below $77,000 After Hawkish Fed Speech

Bitcoin's price fell sharply below $77,000 on Friday, August 28, 2026, after Federal Reserve Chair Kevin Warsh delivered a hawkish speech at the annual Jackson Hole symposium, reviving concerns about potential interest rate increases. The cryptocurrency had recently rallied above $81,000 but reversed course within an hour of the speech's conclusion, triggering a broader sell-off across the digital asset market. The decline erased over $80 billion from the total cryptocurrency market capitalization, which fell to approximately $2.72 trillion. Bitcoin's market cap dropped to around $1.555 trillion.