TODAY IS A BIG DAY FOR CRYPTO 🚨

At 10AM ET, Powell will deliver a speech at the Jackson Hole Summit.

For the past week, the markets have been dumping because of this.

The reason is that people think Powell will be hawkish.

This is why the September rate cut probability has dropped to 71%

But there’s one thing most people are missing.

Since the last FOMC meeting, the jobs market has gotten worse.

The unemployment rate spiked to 4.2%, initial jobless claims are rising, and jobs data are being revised down.

Also, bankruptcies are now at their highest level since 2020.