◀️⏏️Why did the cryptocurrency market drop today? (August 22)📶📉

⚪The cryptocurrency market dropped today, August 22,🔺 with a decline in sentiment as participants await Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium.📶⏏️

📶Summary◀️

⚪The cryptocurrency market fell today ahead of Jerome Powell's Jackson Hole speech.📉✔️

⚪Bitcoin and Ethereum exchange-traded funds (ETFs) experienced significant outflows this week.✔️📉

⚪BTC formed a double top pattern on the daily chart.✔️📉

⚪The price of Bitcoin (BTC) dropped to an important support level at $112,000🔺, down 10% from its highest level this year. Other digital currencies,🔺 such as Fart Coin (FARTCOIN),🔺 Sky (SKY),🔺 and Chainlink (LINK), also dropped by more than 5%🔺, while the total market capitalization of all cryptocurrencies fell to $3.8 trillion.📉✔️

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