# Fed Chair Kevin Warsh sparks $488 million crypto liquidation cascade as rate-hike bets rise

https://mins.news/en/item/36062

- CryptoSlate, 2026-08-28 18:50 UTC
- Economy
- Original: https://cryptoslate.com/fed-chair-kevin-warsh-triggers-a-488-million-crypto-liquidation-cascade-as-rate-hike-expectations-rise/

> Fed Chair Kevin Warsh’s Jackson Hole remarks pushed traders to raise the estimated chance of a September rate hike from about 35% to 60%. Bitcoin briefly fell below $77,000, while nearly $488 million in crypto derivatives positions were liquidated over 24 hours, affecting almost 98,000 traders and hitting long positions hardest.

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