Around $120 billion has exited crypto markets over the past 24 hours, dropping total capitalization to a two-week low of $3.86 trillion during early trading in Asia on Wednesday.<\/p>\n
Bitcoin fell below $113,000 to its lowest level for 17 days while Ethereum dipped below $4,100, eroding all of last week\u2019s gains.<\/p>\n
The market sell-off is in preparation for Federal Reserve Chair Jerome Powell\u2019s Jackson Hole speech<\/a> on Friday, and is \u201cessentially pricing in a hawkish tone,\u201d said<\/a> Bitcoin author Jason Williams on Wednesday.<\/p>\n He added that markets<\/a> now believe rate cuts are no longer a guarantee for September, and if Powell hints that they may not be implemented, the bearishness will likely continue. However, \u201cif Powell comes in soft and leans that rate cuts are likely, we turbo rip,\u201d he said.<\/p>\n If there are no rate reductions for September, \u201cit\u2019ll be an ugly 4-6 weeks until we have clarity for October potential cuts.\u201d<\/p>\n \u201cMarket HATES uncertainty and we are seeing that in the price action right now.\u201d<\/p>\n The probability of a Sept. 17 rate cut is still a high 85% according<\/a> to the CME Fed Watch Tool, which is based on futures markets. However, this could drop sharply if Powell is hawkish on Friday.<\/p>\n President Trump, who has been highly critical of the central bank chair, calling him \u201ctoo late,\u201d said, \u201cThere is no inflation, and every sign is pointing to a major rate cut.\u201d<\/p>\n BREAKING: President Trump asks for somebody to \u201cinform Jerome \u2018Too Late\u2019 Powell that he is hurting the housing industry.\u201d pic.twitter.com\/jJY4lMg22J<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) August 19, 2025<\/a><\/p>\n\n \u201cWe are in this uncomfortable equilibrium, where we don\u2019t know where things go next,\u201d Gennadiy Goldberg, chief rates strategist at TD Securities, told<\/a> the Financial Times on Tuesday.<\/p>\n \u201cThe market wants a bit of confirmation from Powell on Friday as to whether he is open to cutting rates.\u201d<\/p>\n A lower interest rate environment means cheaper borrowing and more liquidity available for risk-on assets such as cryptocurrencies.<\/p>\n Crypto sentiment is very volatile and flips in minutes, observed Bitcoin Magazine founder David Bailey, who said<\/a>:<\/p>\n \u201cOne of the most hilarious aspects of Bitcoin is sentiment. It flickers like a flame. One moment euphoria, moments later panic. Many Bitcoin have exchanged hands through such emotions.\u201d<\/p>\n Meanwhile, Santiment reported<\/a> that retail traders have \u201cdone a complete 180 after Bitcoin has failed to rally and dipped below $113K.\u201d It noted that the past 24 hours have marked the most \u201cbearish sentiment seen on social media\u201d since geopolitical conflict in the Middle East caused panic selling<\/a> in late June.<\/p>\n BTC had recovered slightly to trade at $113,520 at the time of writing as its next direction hinges on Friday\u2019s Fed speech.<\/p>\n The post Crypto Markets Dump $120B as Friday Fed Speech Looms\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Around $120 billion has exited crypto markets over the past 24 hours, dropping total capitalization to a two-week low of $3.86 trillion during early trading in Asia on Wednesday. Bitcoin fell below $113,000 to its lowest level for 17 days while Ethereum dipped below $4,100, eroding all of last week\u2019s gains. The market sell-off is […]<\/p>\n","protected":false},"author":0,"featured_media":89813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-89812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/89812"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89812"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/89812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/89813"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crypto Markets Seeking Confirmation<\/h2>\n
Crypto Sentiment Flickers<\/h2>\n