{"id":164741,"date":"2025-08-21T21:03:16","date_gmt":"2025-08-21T21:03:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/164741\/"},"modified":"2025-08-21T21:03:16","modified_gmt":"2025-08-21T21:03:16","slug":"bitcoin-dips-ahead-of-fed-chair-jerome-powells-remarks-at-jackson-hole","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/164741\/","title":{"rendered":"Bitcoin dips ahead of Fed Chair Jerome Powell’s remarks at Jackson Hole"},"content":{"rendered":"

Crypto investors are holding their breaths before Jerome Powell, chair of the Federal Reserve, speaks Friday in Jackson Hole, Wyoming. Bitcoin has dipped about 1% over the past 24 hours and almost 5% over the past week to around $112,000, according to data from Binance<\/a>. Ethereum, the world\u2019s second largest cryptocurrency, is also down 2% over the past day to now $4,240, per Binance<\/a>.<\/p>\n

The pullback of the two largest cryptocurrencies tracks with a broader market decline, with the total market capitalization of all cryptocurrencies down 1% day-over-day to $3.9 trillion. Meanwhile, the S&P 500 is down 0.3% since markets opened Thursday.<\/p>\n

\u201cInvestors appear increasingly doubtful that Powell will signal a pivot at Jackson Hole,\u201d James Butterfill, head of research at the crypto asset manager CoinShares, told Fortune.<\/p>\n

The weeklong pullback in the digital assets market comes as traders try to predict whether the Fed will cut interest rates in September, which will likely prompt money to flow from U.S. Treasury bills into riskier assets with higher potential yields, like crypto.<\/p>\n

Since 1982, the Federal Reserve Bank of Kansas City has hosted a conference in Jackson Hole. The Fed chair usually speaks at the event, and, as with any public speech from Powell, investors will pore through his remarks to glean whether the Federal Reserve will cut rates.<\/p>\n

Last week, analysts were nearly certain that rate cuts were imminent after the Bureau of Labor Statistics reported only a moderate increase of total inflation in July of 2.7%. That was less than what many expected. Markets surged, and Bitcoin notched another all-time high.<\/p>\n

But, two days later, the BLS reported that prices for goods made by U.S. producers increased 0.9% in July, the biggest uptick in what\u2019s called the producer price index since June 2022. The news led to a dip in crypto markets, which have traded lower over the past week.<\/p>\n

Still, some market observers are optimistic. \u201cThis dip looks like a small correction to me, not a trend break,\u201d said Ira Auerbach, head of the venture arm connected to the blockchain developer Offchain Labs and the former head of digital assets at Nasdaq<\/a>, Inc.<\/p>\n

He said that pro-crypto policy in the U.S., like President Donald Trump\u2019s recent executive order that allows crypto and other private assets into 401(k)s, has stayed intact. Auerbach also pointed to increased adoption of stablecoins, or cryptocurrencies tied to underlying assets like the U.S. dollar.<\/p>\n

\u201cI\u2019d expect this pullback to get absorbed,\u201d he added, \u201cand for the trend higher to continue once the macro fog clears.\u201d<\/p>\n

On the new Fortune Crypto Playbook vodcast,<\/strong> Fortune\u2019s senior crypto experts decode the biggest forces shaping crypto today. Watch or listen now<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Crypto investors are holding their breaths before Jerome Powell, chair of the Federal Reserve, speaks Friday in Jackson…\n","protected":false},"author":3,"featured_media":164742,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7566,64,821,7567,67,132,68],"class_list":{"0":"post-164741","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin","9":"tag-business","10":"tag-cryptocurrency","11":"tag-ethereum","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115068786686918331","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=164741"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/164742"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=164741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=164741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=164741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}