Prediction market traders now put a Federal Reserve rate increase ahead of a hold for the September meeting, after Chair Kevin Warsh told the Jackson Hole symposium on Friday that this summer's inflation readings had not convinced him underlying trends were improving. Bitcoin has given back less than a percent through that repricing and through a weekend exchange of strikes between the United States and Iran.
Brent crude is above $90, gold is lower for a second session and U.S. equities opened down. Bitcoin held above $78,000 and is on course to finish August with its largest monthly gain since November 2024. Breadth is worse below the majors: 88 of the 125 largest non-stablecoin tokens are down on the day, and total crypto market value has fallen faster than bitcoin.
Bitcoin last changed hands at $78,317, down 0.65% over 24 hours and unchanged over seven days, after trading between $77,162 and $79,347, CoinGecko data shows. Ether was at $2,464, down 0.61% on the day and 1.1% on the week. XRP fell 2.4% to $1.37 and is 7.6% lower over seven days; Solana dropped 3.3% to $103.05 while holding a 9% weekly gain; BNB fell 1.5% to $688.55. Total crypto market value stood at $2.65 trillion, down 2.6% over 24 hours, on $83.9 billion of volume, with bitcoin dominance at 59.2%.
