Bitcoin Pulls Back Below $78,000 Following ETF-Driven Rally

Bitcoin retreated on Friday, ending a strong rally fueled by ETF inflows. The price dropped to $77,379 by Friday afternoon in New York, a decline of over 3% in 24 hours, after hitting a peak of $81,281 earlier in the week. Federal Reserve official Kevin Warsh cooled market sentiment by stating that more work is needed to combat inflation. Despite the pullback, U.S. spot Bitcoin ETFs saw $1.14 billion in net inflows this week, with BlackRock's iShares Bitcoin Trust leading the volume. Analysts suggest the recent surge was driven by a 'currency debasement tra