Bitcoin Drops Below $77,000 as $478M in Leveraged Positions Were Liquidated

Bitcoin fell below $77,000 after Fed Chair Kevin Warsh delivered a hawkish speech at Jackson Hole, warning that inflation remains too high. BTC dropped to $76,845, wiping out heavily leveraged positions and pushing total crypto liquidations to $478 million. The sharp move came as traders worried that higher rates could keep pressure on risk assets.