Bitcoin retreats after hawkish Jackson Hole keynote

Bitcoin slipped from its recent high of $81,455 to a range of $77,588‑$77,984 following a hawkish keynote by Federal Reserve Chair Kevin Warsh at the Jackson Hole Economic Policy Symposium.

Market reaction to the Warsh speech

Warsh’s remarks emphasized that the Fed still has work to do on monetary policy, pushing the odds of an imminent rate hike from roughly 35% to the mid‑50s. Treasury yields rose and gold prices fell modestly. Bitcoin, which had been trading around $79,500, briefly dropped below $77,000 before buyers stepped in.

ETF flows reverse after eight days of inflows

U.S. spot bitcoin exchange‑traded funds (ETFs) recorded a net outflow of $202 million, snapping a nine‑day, $3 billion inflow streak. Despite the reversal, August still shows strong net inflows of roughly $3.1‑$3.3 billion.

Technical outlook

• Current support: $76,800‑$77,000
• Resistance: $79,500‑$80,300
• RSI: 70 (overbought)
• Stochastic: 85 (overbought)
• MACD remains positive, indicating lingering bullish momentum

Broader context

Bitcoin’s price has risen 23.2% since August 15, helped by Treasury bond‑buyback announcements and positive comments from U.S. President Donald Trump regarding crypto. However, sticky inflation indicated by a rise in the personal consumption expenditures (PCE) price index added pressure.