Federal Reserve Chair Kevin Warsh used his first Jackson Hole keynote on Aug 28 to keep a cautious line on inflation. He reaffirmed the Fed's 2% target and said recent lower PCE and CPI prints do not convince him that underlying trends have meaningfully improved. He also dropped forward guidance as a standing practice.
Bitcoin fell about 1% after the US open, touching the low-$78,000 range on Bitstamp before settling near $79,500, and failed to hold above $80,000. US stocks avoided losses, with the S&P 500 and Nasdaq both up about 0.5%.
The direct driver was the Fed's policy stance, not an altcoin-specific event.
Cointelegraph; corroborated by CoinDesk; primary = Fed Chair Kevin Warsh Jackson Hole keynote