Bitcoin (BTC) has seen a drastic drop in its price below $26,000, losing all of Wednesday’s price gain amidst the declines in traditional markets. Ethereum (ETH) has seen a 0.88% decrease in the last 24 hours but up to 3% drop from Wednesday’s high.Traditional assets are also caught in the sudden turbulent market; the equity market has seen a downward trend and this is led by the 1.3% decline in the tech-heavy Nasdaq Composite, and also the S&P 500 which plunged by 0.08%.Market observers are looking out for the public speech from Jerome Powell, the United States Federal Reserve Chair, at the Kansas City Federal Reserve’s annual Jackson Hole Symposium on Friday in Wyoming. This meeting is a high-level gathering of central bankers and economists.As it stands, there is every possibility that Bitcoin price could fluctuate sideways; either reaching as low as $20,000 or moving towards $30,000. Some analysts are confident that there is a higher potential for a decline towards $20,000 but it is worth noting that an approval for spot BTC Futures from the Securities and Exchange Commission (SEC) can impact positively on the token’s price in the long term.Bitcoin (BTC) has seen a drastic drop in its price below $26,000, with Ethereum (ETH) seeing a 0.88% decrease in the last 24 hours. Traditional assets are also caught in the sudden turbulent market, with the equity market seeing a downward trend. Market observers are looking out for the public speech from Jerome Powell, the United States Federal Reserve Chair, at the Kansas City Federal Reserve’s annual Jackson Hole Symposium on Friday in Wyoming. There is a possibility that Bitcoin price could fluctuate sideways, with some analysts confident that there is a higher potential for a decline towards $20,000. However, an approval for spot BTC Futures from the Securities and Exchange Commission (SEC) could positively impact the token’s price in the long term.
| Information |
Details |
| Geography |
Global |
| Countries |
🇺🇸 🇨🇦 |
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
Jerome Powell, John Glover |
| Companies |
Nasdaq Composite, S&P 500, United States Federal Reserve, Securities and Exchange Commission (SEC), Ledn |
| Currencies |
Bitcoin, Ethereum, USD, Nasdaq Composite, S&P 500 |
| Securities |
None |
