Crypto Market Under Pressure, Investors Withdraw $1.9 Billion Focused on Powell's Speech

According to Mars Finance, as reported by Jin Shi, digital assets are under pressure as traders await Powell's highly anticipated speech on Friday. Data shows that U.S. spot Bitcoin and Ethereum ETFs have seen outflows for four consecutive trading days, with investors withdrawing a total of $1.9 billion. Options trading activity indicates that investors are shifting to defense, with the put/call ratio for contracts expiring on August 22 rising to 1.33, at which time $3.8 billion worth of Bitcoin options will expire. Concerns about a short-term pullback are intensifying.