$BTC Important News Today 📰🗞️

Is Powell's speech at Jackson Hole expected to break the limited trading pattern of Bitcoin (BTC)?

According to a report from QCP Capital on August 18, the recent drop in Bitcoin's price from $118,000 to $115,000, and the drop in Ethereum's (ETH) price from $4,500 to $4,300, resulted in the liquidation of over $400 million in long contract positions.

This trend completes last week's 5% correction, which saw over a billion dollars liquidated from decentralized finance (DeFi) funds and profit-taking signals.

At the same time, funding rates turned negative, with risk reversals favoring put options, indicating a cautious market ahead of Federal Reserve Chair Powell's meeting at Jackson Hole.

Nevertheless, institutional demand remains strong, with Metaplanet adding 775 Bitcoin over the weekend. Although the latest Producer Price Index data exceeded expectations (0.9% vs. 0.2%), increasing uncertainty regarding Federal Reserve policy, Bitcoin prices still remain within a price range of $112,000 to $120,000.

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