Odaily Planet Daily reports that bitcoin lost its footing on Friday after Federal Reserve Chair Warsh delivered a hawkish message at the Jackson Hole symposium. The price slipped to an intraday low of $76,877, retreated from an overnight high of $81,455 and settled at $77,557, a one-day drop of 3.39%.
Resistance and rate expectations
Bitcoin had been up by double digits earlier this week, but the $81,000-$82,500 resistance zone again capped the advance. Warsh said U.S. inflation is still not declining fast enough and more work remains before the Fed hits its 2% target. Markets responded by raising the odds of a September rate hike. CME FedWatch data put the probability at 55.7%, up from 35.4% the previous day.
Liquidations and positioning
Across all crypto markets, roughly $481 million in positions were liquidated over the past 24 hours. Longs accounted for more than $360 million of that total. Prediction-market data shows traders still give bitcoin a 77% probability of reaching $84,000 and a 23% probability of falling to $55,000. Friday's pullback has not changed those odds.
U.S. spot bitcoin ETFs posted an eighth straight day of net inflows as of Wednesday, accumulating about $2.8 billion. That is the longest inflow streak since April. Bitcoin's RSI sits near 69.7, still below the extreme overbought zone that preceded earlier corrections.
Key levels
Should prices fall further, the $73,670-$75,157 area becomes the main defense line for bulls. Regaining $81,000-$82,500 would reopen room for new highs. With Warsh downplaying forward guidance, the market lacks a clear policy trajectory before the next policy meeting. Bitcoin could still swing with inflation data and shifts in rate expectations.