Today (22), the crypto market maintains a sideways tone, with Bitcoin fluctuating around $113,000 after hitting lows the previous day, and Ethereum stabilizing near $4,300.
The focus is on Jerome Powell's speech in Jackson Hole, which may provide important signals about future monetary policies. Meanwhile, OKB continues to stand out with a significant rise, consolidating itself as the strongest altcoin of the day.
Key news from the crypto market and its impact
The interim head of the DOJ's Criminal Division suggested that the Department will not bring similar charges against software developers, making an indirect reference to the Roman Storm case. The accusation generated widespread sympathy, even in government circles, which likely influenced the revision of the stance.
Coinbase announced its plans to list USD1, the stablecoin issued by World Liberty Financial. This move comes after the issuance of over $200 million in USD1 yesterday, ensuring liquidity for new users.
OKB continues its meteoric rise: The OKX token surpassed $250 after rising over 300%, driven by a massive token burn and the launch of X Layer.
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Evolution of the crypto market: technical summary
The technical scenario today shows a market in a phase of consolidation and waiting, with BTC and ETH adjusting, while XRP and Solana seek support amid macroeconomic caution.
Bitcoin (BTC) is trading again close to $113,000. After accumulating a drop of 8% so far in August, the support located between $110,000 and $112,000 continues to show strength.
However, the expiration of options worth $11.8 billion scheduled for August 29 could become the catalyst that defines the next direction: either a sustained recovery or a deeper correction.
Meanwhile, Ethereum (ETH) remains stable around $4,300, with a slight daily increase of 0.5%. Despite the overall market pressure, institutional support and the steady increase in flows to ETH ETFs reinforce its technical resilience and maintain investor confidence in its structure.
As for XRP, the token is undergoing a consolidation phase near $2.86, with an approximate weekly drop of 8%. The loss of the $3 level as key support brings it closer to critical areas like $2.70.
Finally, Solana (SOL) is trading around $183–184, after a drop of nearly 7% last week. From a technical viewpoint, the most relevant supports are located in the range of $179–180, while the nearest resistances are between $190 and $200, according to projections based on Fibonacci levels.
Cryptocurrency price index. Source: BeInCrypto
In summary, the market is undergoing a technical phase of waiting, consolidating key levels and assessing macroeconomic signals. Bitcoin stabilizes, Ethereum resists adjustment, XRP struggles to maintain support, and Solana is at a technical inflection point.
The article Why did the cryptocurrency market drop today 22/08/2025? was first seen on BeInCrypto Brazil.
