GBTC is trading 3.03% down as Bitcoin fell below $80,000 after Federal Reserve Chair Kevin Warsh maintained a hawkish inflation stance at Jackson Hole.
- Warsh said inflation trends have not improved; limited forward guidance increased policy uncertainty and pushed short-term Treasury yields higher.
- Bitcoin fell roughly 1.85%, the direct sector catalyst, while broadly mixed equities suggest the move is primarily crypto- and macro-driven.