Bitcoin fell below $113,000 and Ethereum nudged down, sending jitters through the crypto world. With Jerome Powell’s Jackson Hole speech looming, traders are bracing for impact. Could a hawkish remark spark chaos? Or does a dovish comment trigger a rally? Here’s the latest crypto market update live.
Bitcoin and Ethereum Price Snapshot
Source: TradingView
Bitcoin (BTC) traded at $113,018 early Friday, down 0.74% over the last 24 hours, after briefly testing new local lows during Wednesday’s Wall Street session. This marks a 17-day low, and some traders are asking why the cryptocurrency market is down today amid concerns over potential market manipulation and liquidity gaps on exchanges. Ethereum (ETH) remained largely steady at $4,284, slipping just 0.1%, as overall sentiment stayed cautious.
Fear and Greed Index Reflects Investor Caution
The Bitcoin Fear and Greed Index stabilized at 46, signaling a modest recovery after last week’s market correction. Despite this, sentiment remains fragile with Powell’s remarks looming on the horizon. The current crypto market highlights just how sensitive traders are to regulatory and macroeconomic cues.
Regulatory Spotlight
The Commodity Futures Trading Commission (CFTC) launched its second crypto sprint initiative, seeking industry feedback on leveraged or margin trading rules. This follows recommendations from the President’s Working Group on Digital Assets and highlights increasing regulatory scrutiny. Traders are also closely watching the CME FedWatch tool, which shows a 74% probability of a 25-basis-point Fed rate cut in September, adding another layer to the crypto market overview chart for analysts and investors.
What Lies Ahead
“The near-term trajectory for digital assets hinges on Powell’s Jackson Hole speech. With Bitcoin struggling to hold $113,000 and Ethereum testing support near $4,280, volatility remains a central theme. If Powell signals dovishness, crypto markets could rebound; if not, further downside may be inevitable.”
With uncertainty in the air and regulatory developments keeping traders alert, this crypto market update live reminds investors that the coming days will be crucial. From price swings to policy announcements, the crypto market overview suggests a rollercoaster ride ahead, and market watchers are bracing for every twist and turn.
