Bitcoin slid below $78,000 following comments from Federal Reserve Chair Kevin Warsh. The leading crypto dropped from a local high of $81,455 down to $76,877, and at press time, it's trading around $77,700.

Market Turns Red

The sell-off hit major altcoins too: Ethereum is down 2.1% to $2,400. Most of the top market cap coins are also in the red right now.

What the Fed Chair Said

In his speech, Kevin Warsh reaffirmed the Fed's commitment to keeping inflation at 2%.

Price Action Context

This move was captured on the hourly chart for the BTC/USDT pair on Binance.