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Contents<\/p>\n
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- Jerome Powell\u2019s speech pushes markets down<\/a><\/li>\n
- Ethereum\u2019s recent price action<\/a><\/li>\n<\/ul>\n<\/div>\n
Following the hawkish statement<\/a> of Jerome Powell, head of the US Fed Reserve, during the annual central banking summit that occurred n Wyoming\u2019s Jackson Hole on Friday, August 26, stock markets along with cryptocurrencies began to slump.<\/p>\n
Jerome Powell\u2019s speech pushes markets down<\/h2>\n
The Fed Reserve chairman stated that the US central bank will have to keep to its hawkish stance for a while longer, thus killing traders\u2019 expectations for a pivot to happen any time soon.<\/p>\n
The traditional rival of Bitcoin, gold, also went down, according to data presented by Santiment data aggregator \u2013 gold, S&P 500, Bitcoin, Ethereum and other digital currencies responded with a sharp fall.<\/p>\n
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📊 #Bitcoin<\/a>, #Ethereum<\/a>, the #SP500<\/a>, and #gold<\/a> are all down considerably on a #bearish<\/a> Friday for traders. $BTC<\/a> is back down to a 6-week low after #JeromePowell<\/a> made #hawkish<\/a> remarks about the state of the US economy, in spite of a positive #CPI<\/a> report. https:\/\/t.co\/hTtPT7nWuN<\/a> https:\/\/t.co\/ThliKG6SeY<\/a> pic.twitter.com\/mtlkuEBTtB<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) August 26, 2022<\/a><\/p><\/blockquote>\n
On Friday, the flagship cryptocurrency dropped from slightly above $21,000, hitting the $20,200 zone by now. In the past 24 hours, BTC has declined by over 5 percent.<\/p>\n
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Ads<\/p>\n<\/div>\n<\/div>\n
Ethereum fell from the $1,686 level, trading in the $1,506 zone at press time and losing 9 percent over the past 24 hours.<\/p>\n
![\"CMC_leadingcoins_00weiufsdjvw4rt\"](\"https:\/\/u.today\/sites\/default\/files\/inline-images\/BTC_ETHlosses.png\")
Image via CoinMarketCap<\/a><\/em><\/figcaption><\/figure>\n DOGE, XRP, ADA and other top ten cryptocurrencies reacted with a price decline on Friday but now the crypto market seems to be returning to the green area, at least for the time being.<\/p>\n
Ethereum\u2019s recent price action<\/h2>\n
- Ethereum\u2019s recent price action<\/a><\/li>\n<\/ul>\n<\/div>\n