Reported 2 days ago
Ahead of Federal Reserve Chair Jerome Powell's significant speech at the Jackson Hole Economic Policy Symposium, Bitcoin traders are selling off in anticipation of a lack of signals for a September interest rate cut. The price of Bitcoin has dropped about 10% from its recent high, with bearish sentiment prevalent in options pricing. While some analysts remain bullish on Bitcoin's long-term potential, current trading activity indicates caution and risk aversion as traders prepare for the potential impacts of Powell's comments on cryptocurrency prices.
Source: YAHOO