Bitcoin has been a bit "out of control" recently, dropping below $115,000 on Tuesday and moving further away from its previous high! Investors are now watching to see if the Federal Reserve will ease up while also concerned about whether peace can be negotiated in the Russia-Ukraine situation. #加密市场回调 #俄乌冲突即将结束？ #山寨季何时到来？

As of early morning Eastern Time, Bitcoin is down 0.3%, trading around $114,990. The dollar surged to the $124,000 mark last week, but the good news is that production and import prices were better than expected, leading to a slight retreat of the dollar.

Other cryptocurrencies are also consolidating, and the market atmosphere feels a bit like "crossing the river by feeling the stones." The uncertainty in geopolitics has further pressured cryptocurrency prices—Trump proposed direct talks with Moscow and Kyiv, possibly even a three-way summit, but there have been no concrete results, and risk appetite has decreased, naturally putting pressure on the crypto circle.

The Federal Reserve is also not easing up, as Powell is set to speak at Jackson Hole on Friday. Traders' expectations for a significant rate cut have cooled, with futures showing an 83% probability of a 25 basis point cut, down from previous optimistic expectations. Higher-than-expected inflation data has further shattered hopes for easing, putting significant pressure on Bitcoin and other risk assets.

The altcoin market is also not very active today:

ETH is down 0.3%, trading at $4,230

XRP is up 1.5%, trading at $3.017

Solana is down 0.9%

Cardano is up 1.2%

Polygon is up 5.6% against the trend

DOGE is down 2%, and $TRUMP is slightly up 0.2%