⚪ The cryptocurrency market has lost about $120 billion in 24 hours,🔻 bringing its market value down to $3.91 trillion, the lowest level in two weeks.✔️

⚪ The price of Bitcoin dropped below $113,000🔺, and Ethereum fell below $4,100,🔻 wiping out last week's gains.✔️

⚪ The decline is linked to market anticipation for Federal Reserve Chairman Jerome Powell's speech next Friday in Jackson Hole,🔻 amid expectations of hawkish remarks that could affect the decision to cut interest rates in September.✔️

⚪ Although the CME FedWatch tool still indicates an 85% chance of an interest rate cut,🔻 any cautious tone from Powell could push the markets further down,🔻 while a dovish tone could support a recovery.✔️

⚪ On the other hand,🔻 market sentiment is experiencing sharp fluctuations.✔️

⚪ The Santiment platform indicated that the last few hours have seen the most pessimism on social media platforms since late June.✔️

⚪ The price of Bitcoin has partially recovered and returned to $113,720 at the time of writing this article🔻, awaiting a clearer signal from Powell to determine the upcoming direction.✔️

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