Major Cryptocurrencies Decline Ahead of Powell's Jackson Hole Address
Leading cryptocurrencies experienced losses on Thursday as investors remained cautious before Federal Reserve Chair Jerome Powell's speech.
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Cryptocurrency markets faced significant declines on Thursday as investors adopted a cautious approach before Federal Reserve Chair Jerome Powell's anticipated Jackson Hole speech. Bitcoin fell below $112,000 for the first time in over a month, while Ethereum dropped to $4,205.78.
The market saw widespread losses with Bitcoin down 1.28%, Ethereum declining 1.42%, and other major cryptocurrencies also falling. Over $220 million was liquidated from crypto markets within 24 hours.
Despite the downturn, large investors purchased over 16,000 Bitcoin during the dip, which analysts interpret as a potential sign of market recovery.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47273845/bitcoin-ethereum-dogecoin-solana-slide-ahead-of-jerome-powells-jackson-hole-speech-large-in