Ahead of Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Economic Symposium, the cryptocurrency market is showing fluctuations. Bitcoin and Ethereum have experienced slight declines over the last 24 hours.
Market Overview
The cryptocurrency market has contracted by a fraction in the past 24 hours. Bitcoin fell by 0.3%, while Ethereum slipped by 0.25%. Meanwhile, OKB (OKB) led gainers with a 10% surge.
Reaction to Jerome Powell's Upcoming Speech
The market is generally cautious ahead of Jerome Powell's speech at Jackson Hole, as traders await guidance on potential changes to interest rates.
Technical Analysis of Bitcoin and Ethereum Prices
Bitcoin is currently at a critical price point, testing support around $114,000. Ethereum also shows stability, staying within an upward channel with support at approximately $3,987.
Cryptocurrencies remain under pressure due to market uncertainty stemming from the Federal Reserve's actions. Expectations may heavily influence Bitcoin and Ethereum prices in the coming days.
