Bitcoin (BTC) Faces Rate-Hike Pressure as Fed Chair Warsh Lifts September Odds to 57.5%

Fed Chair Kevin Warsh's hawkish Jackson Hole speech pushed September rate-hike odds to 57.5%, sending 2-year yields up 11.8 basis points and pressuring Bitcoin. The rate hike expectations weigh on BTC as higher interest rates typically reduce demand for risk assets like cryptocurrencies.