The total crypto market cap shed over $80 billion after the Jackson Hole speech by Kevin Warsh.

Bitcoin’s price rally that drove it past $81,000 on a couple of occasions in the past week came to a halt after the hawkish stance by the new Fed Chair displayed yesterday, and the asset slipped to a five-day low of under $77,000.

Most altcoins followed suit, posting 3-5% daily declines. Ripple’s XRP, which recently peaked at $1.70, initiated another leg down, dropping below $1.40.

BTC Dips Below $77K

The primary cryptocurrency’s explosion that began on August 19 took it from under $65,000 to almost $80,000 in 48 hours last week, where it finally faced some resistance…