NEW YORK – By early Friday morning on the East Coast, the Indian retail investors who had ridden Bitcoin’s blistering August rally from ₹60 lakh to nearly ₹79 lakh were staring at a number that told a different story. Bitcoin had slid to ₹75,81,164, roughly ₹3 lakh below Thursday’s level, and the catalyst was in Jackson Hole, Wyoming, where Federal Reserve governor Kevin Warsh put a word the crypto market hoped was off the table back on it: hike.
Bitcoin price today is $77,678, down approximately $2,597, or 3.3 percent, from Thursday’s close of $80,275.34, according to CoinDesk data as of 1:28 a.m. EDT on August 29, 2026. The drop erased most of Thursday’s session gains, when Bitcoin climbed as high as $81,330 before Warsh addressed the Kansas City Fed’s annual symposium. Market capitalization stood at $1.61 trillion. Twenty-four-hour trading volume reached $15.61 billion.
For Indian investors, the Mudrex converter placed Bitcoin at ₹75,81,164 as of early Friday IST. WazirX and other domestic exchanges typically track the USD price with a short lag and a spread reflecting rupee liquidity, so intraday prices may differ slightly from the USD-derived figure. The ₹75.8 lakh level represents a sharp reversal from the ₹77 lakh range Indian buyers saw Thursday, though it remains well above the ₹60-lakh floor that held in late July.
| Metric | Value | Source / Note |
|---|---|---|
| BTC price (USD) | $77,678 | CoinDesk, 1:28am EDT Aug 29 |
| BTC price (INR) | ₹75,81,164 | Mudrex converter |
| 24h change | –$2,597 / –3.3% | vs Aug 27 close $80,275 |
| Intraday high (Aug 28) | $81,330 | Investing.com |
| Market cap | $1.61 trillion | CoinDesk |
| 24h volume | $15.61 billion | CoinDesk |
| 7-day | +5.4% | vs Aug 21 |
| August MTD | +21.5% | from $62,280 on Jul 29 |
| Data as of | 1:28am EDT, August 29, 2026 | Live data; refresh for latest |
Warsh’s message at Jackson Hole was direct: core PCE inflation ran at 3.7 percent over the past 12 months and 4.1 percent over the past six, both well above the Fed’s 2 percent target. He stopped short of committing to a September move, but the door, he made clear, was open. Polymarket’s rate-hike probability contract, which traded below 50 percent entering Thursday, closed near 68 percent. Analysts at Nansen told crypto.news that Warsh’s hawkish tone directly pressured crowded Bitcoin long positions, particularly given that $6.4 billion in options had expired on CME Group that same morning, removing a natural hedging buffer. A September rate hike would mean higher real yields and a stronger dollar, two conditions that historically suppress demand for non-yielding assets. Bitcoin was the most exposed.
August 2026 has defied the historical pattern. Bitcoin has fallen in nine of the past fourteen Augusts, but this year it ran from $62,280 on July 29 to $81,330 at Thursday’s high, a gain of more than 30 percent inside a single calendar month. The month-to-date figure through early Friday still stands at plus 21.5 percent. Warsh’s speech tests whether the institutional architecture that carried Bitcoin to those levels can hold against the very macro headwinds it replaced. The broader Jackson Hole effect is hitting equities simultaneously, with S&P 500 futures pointing lower Friday for the same set of reasons. Regulatory signals, including Missouri’s HB 2080 state Bitcoin reserve bill and the SEC’s revised digital asset custody framework, have not changed; those are structural tailwinds that one Fed speech cannot undo.
What is Bitcoin price today in USD?
Bitcoin is trading at $77,678 as of 1:28 a.m. EDT on August 29, 2026, according to CoinDesk. The price is down approximately $2,597, or 3.3 percent, from the previous close of $80,275.34. Data as of 1:28am EDT, August 29, 2026. Live prices may differ; check CoinDesk or Coinbase for the latest figure.
What is Bitcoin price today in India (INR)?
Bitcoin is trading at approximately ₹75,81,164, or roughly ₹75.8 lakh, as of early Friday IST, according to the Mudrex converter. Indian exchange prices on WazirX and other domestic platforms may differ slightly from the USD-derived figure due to rupee liquidity spreads and processing lags. The price represents a decline from Thursday’s ₹77 lakh range.
Why is Bitcoin price falling today?
Federal Reserve governor Kevin Warsh put a September interest rate hike back on the table at Jackson Hole on August 28. Polymarket’s rate-hike probability contract rose from below 50 percent to 68 percent following his speech. Higher expected rates strengthen the dollar and lift real yields, reducing demand for non-yielding assets including Bitcoin. Thursday’s $6.4 billion options expiry at CME Group amplified the selling by removing hedging buffers from the market.
What is a Bitcoin ETF and why does it matter?
A Bitcoin ETF allows investors to gain exposure to Bitcoin’s price without directly holding the cryptocurrency. Since spot Bitcoin ETFs launched in the United States, institutional investors including asset managers and hedge funds have committed significant capital through these vehicles. BlackRock’s iShares Bitcoin Trust recorded eight consecutive days of inflows before Warsh’s speech, accumulating roughly $2.8 billion. That institutional demand acts as a structural floor that limits the severity of sell-offs compared to the 2022 cycle.
How does the Fed rate decision affect Bitcoin price?
Bitcoin’s August rally was powered in part by expectations that the Federal Reserve would cut rates, weakening the dollar and lowering real yields. Non-yielding assets like Bitcoin benefit from that environment. When Warsh’s speech reversed those expectations, the trade underlying Bitcoin’s move from $62,000 to $81,000 was directly challenged. Whether a September hike materializes, and what it does to dollar and yield trajectories afterward, is the primary variable for Bitcoin’s next directional leg.
Is today a good time to buy Bitcoin?
This is analysis, not investment advice. Bitcoin’s Fear and Greed Index sat near 68, in Greed territory, before Friday’s move, suggesting markets had already priced in significant optimism. The 3.3 percent pullback to $77,678 brings price back to levels seen roughly a week ago. The structural case for Bitcoin, spot ETF inflows, institutional positioning, and a favorable regulatory direction, has not changed with one Fed speech. What has changed is the near-term macro environment. Whether the dip represents an entry point or the beginning of a deeper correction depends primarily on the September Fed meeting, which remains an open question.
What Friday’s trading has not yet answered is whether Thursday’s $6.4 billion in options settled in ways that created net dealer gamma exposure on the downside, a figure that would clarify whether the options book is still mechanically pushing prices lower. CME Group settlement data for Thursday’s expiry was not available at the time of publication. August 29 ETF flow data is also pending; whether the institutional bid that ran for eight days continues into Friday or pauses is the next data point that matters.
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