Bitcoin Recovers After Initial Drop on Fed Chair’s Inflation Remarks

Bitcoin fell to $78,630 before recovering after Federal Reserve Chair Kevin Warsh addressed inflation in his first major speech as head of the U.S. central bank. Warsh said he had “more work to do” to fight inflation, prompting an initial move lower in the leading cryptocurrency. Bitcoin was later trading at $79,474, according to Bitcoin Magazine, which reported that the asset quickly shrugged off the decline. The price movement highlights a volatile response around comments from the head of the Federal Reserve, although the supplied report does not identify a specific reason for Bitcoin’s subsequent rebound. The article was written by Mathew Di Salvo and published by Bitcoin Magazine on August 28, 2026.