Bitcoin dropped, then popped after Federal Reserve Chair Kevin Warsh gave his first major speech as head of the U.S. central bank and said he had “more work to do” to fight inflation. 

The leading cryptocurrency was recently trading for $79,474 after dropping as low as $78,630 before quickly rising again. 

Bitcoin has typically done well in a low interest rate environment but the Federal Reserve has been reluctant to lower borrowing costs due to sticky inflation in the world’s biggest economy. 

“But on the price-stability side of our mandate, the numbers are more concerning,” Warsh said after talking about employment. 

He added: “We must be confident that…

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