๐—Ÿ๐—ฎ๐˜€๐˜ ๐Ÿฎ๐Ÿฐ ๐—›๐—ผ๐˜‚๐—ฟ๐˜€: ๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—”๐˜ ๐—” ๐—š๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ

โ€ข Bitcoin (BTC) dipped ~2.3%, trading around $115,500, after peaking near $124K last week amid interest rate optimism. The downturn was triggered by cooling expectations and fresh macro data. Barron's

โ€ข Ethereum (ETH) dropped about 5.2% over the same period. Barron's

โ€ข Other notable movers:

โ€“ XRP down ~3.8%

โ€“ Solana (SOL) down ~6%

โ€“ Dogecoin (DOGE) down ~5.2% Barron's

Whatโ€™s Driving the Dip?

Markets are weighing Fed signals ahead of Jerome Powellโ€™s speech at the upcoming Jackson Hole Symposium. Hawkish tones could pressure risk assets further; dovish hints might revive them. Barron's

Adding to the uncertainty, the U.S. Treasury Secretary clarified there are no plans to expand the countryโ€™s Bitcoin reserves. Barron's

Quick Summary:

Cryptos pulled back sharply in the past day especially Bitcoin and Ethereum on the back of shifting macroeconomic signals and cautious investor sentiment. All eyes are now on central bank messaging for the next catalyst.

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