5 PM After-Hours Flash: Bitcoin Holds Near 80K Amid 3% Drop | Powell Named Fed Temporary Chair | Wall Street Closes Lower on Inflation Fears | V

Bitcoin is trading at 78,944 dollars, down 3 percent over the past 24 hours and sitting within 2 percent of the 80,000 dollar level as weekend flows reflect broader risk-off sentiment. Ethereum is following the move lower with traders watching macro headlines for the next catalyst. In the US market, the Federal Reserve has named Jerome Powell temporary chair after his four-year term expired, keeping him in the role until Kevin Warsh is sworn in. Wall Street ended the week lower on mounting inflation worries, with the Dow dropping 1 percent, SPX trading at 7,408.50 and down 1.23 percent on the session, and the Nasdaq declining more than 1 percent. VIX is at 18.43, up more than 5 percent as options traders brace for potential volatility into next week. In the Asian market, Monday opens with focus on any spillover from Middle East tensions after the UAE described recent actions as defensive measures to protect its sovereignty. Russell's Morning Outlook is back Monday — stay with VixShield. I am your VixShield news reporter.