Bitcoin dips ahead of Powell's speech at Jackson Hole
Bitcoin slid almost 8% this month, dropping from $124,000 to about $113,000.
Everyone's watching for clues on US interest rates as Federal Reserve Chair Jerome Powell gets ready to speak at the Jackson Hole symposium today.
Big investors in Asia are still keen on Bitcoin
Crypto prices are super sensitive to what happens with US monetary policy.
Even with the recent dip, big investors in places like Hong Kong and Singapore are still jumping into Bitcoin.
Asian exchanges have seen trading volumes climb, and Ethereum is holding up well too—Fidelity's ETH fund just pulled in $8.6 million.
Bitcoin's stuck in a tight range
Bitcoin's been stuck between $110,000 and $114,000 lately.
The Fed's tough talk has cooled hopes for lower rates anytime soon, which isn't helping prices.
Plus, a massive $13.8 billion options expiry is adding extra pressure on the crypto market right now.