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Bitcoin falls below $ 113,000: crypto market drops by 1.5 % to 3.9 trillion dollars before Powell's speech in Jackson Hole.
Market analysis: Bitcoin falls below 113,000 and burdens the cryptom market The Bitcoin price recently fell below the $ 113,000 mark, which led to a decline in the entire cryptocurrency market by 1.5 %. The current market value amounts to around $ 3.9 trillion. This decline is often interpreted as a result of profit treatment, which before the with ...
Bitcoin falls below $ 113,000: crypto market drops by 1.5 % to 3.9 trillion dollars before Powell's speech in Jackson Hole.
Market analysis: Bitcoin falls below 113,000 and burdens the cryptoma market
The Bitcoin Prize recently fell below the EUR 113,000 brand, which led to a decline in the entire cryptocurrency market by 1.5 %. The current market value amounts to around $ 3.9 trillion. This decline is often interpreted as a result of profit treatment, which Jerome Powell, the chairman of the US Federal Reserve, on which Jackson Hole Symposium has increased before the excited speech.
The market reaction to the upcoming monetary policy explanations is not unusual. Investors tend to minimize and realize risks before important economic announcements are made. This behavior reflects the general uncertainty that prevails in the markets of significant monetary policy changes.
Last week, Bitcoin experienced a strong volatility that influenced the price and ultimately led to this significant decline. Investors should keep an eye on the development of the markets and the reactions to monetary policy information, since these factors can be decisive for the future price development of cryptocurrencies.
An analysis of the market conditions suggests that investors should remain careful, especially in times of increased uncertainties. The upcoming Jackson Hole Symposium could provide crucial references to the future monetary policy direction of the FED, which in turn can have significant effects on the cryptom market.