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“fEaR cRyPtO mArKeT??? bOtToM oR dOoM? 📉
is this a dip to buy or a sign of the apocalypse? will powell’s speech save us or wreck everyone’s portfolio 🤯?
fear in the crypto market: uncertainty high pre-Powell speech at Jackson Hole; fear & greed index swings: demand drops but debate on bottoming
Main to remember:
The cryptocurrency market dipped into “fear” pre-FOMC levels midweek. Will optimism return after Powell’s speech at Jackson Hole? The recent market decline caused concern among investors leading up to Powell’s speech at the symposium. The Fear and Greed Index dropped to 45, then rebounded to a neutral 50. Uncertainty coincided with the release of July FOMC minutes. Analysts debate whether the worst is over, minimizing Powell’s impact on the market.
Do demand drops, but is the bottom? Bitcoin surged to $124,000 before a 10% pullback amid profit-taking and macro pressures. ETF and crypto treasury bill demand decreased recently. This reduction highlighted risk aversion before macro events and Powell’s future actions. Massive liquidations added pressure, surpassing a billion dollars in the past weeks. However, Wall Street analyst Tom Lee believes fears may be overstated, projecting a positive outlook for Bitcoin and Ethereum.
“Fear” cryptography market-does it mean more pain or is it the bottom?
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