Bitcoin Price Correction: Why BTC Stalled Dead at $78,000 Again

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin corrected from $81,455 after a hawkish Fed. The chart shows the exact same rejection level as May. Here are the upside and downside targets.Bitcoin ran 26% in under two weeks, tagged $81,455, and then stopped at the exact price that killed the last rally. That is not a coincidence.As of Sunday 30 August at 11:37 UTC, BTC/USD trades at $78,019 on Bitstamp, down 0.12% on the day. The weekend has been quiet. The week before it was anything but.Why Did Bitcoin Correct After Hitting $81,000?The trigger was macro, not crypto.On Friday 28 August, new Fed Chair Kevin Warsh delivered his first Jackson Hole keynote. He pointed at PCE inflation still running 3.7% year over year, and a hotter 4.1% annualised over the previous six months. The message: the Fed still has work to do.Markets repriced fast. September rate-hike odds on CME FedWatch jumped to roughly 56% from 35% a day earlier, touching 60% intraday. Gold fell 2.4%, US equities gave up early gains, and Bitcoin dropped from ...