The crypto market was having an uneventful week amid these late-summer doldrums—until Friday, when the world’s leading cryptocurrency dropped 4% in the space of 24 hours.
The price plummet was triggered by Federal Reserve Chair Jay Powell’s remarks in Jackson Hole that the Fed will keep raising interest rates as long as it takes to combat inflation. The comments sent stocks reeling as well, not just crypto.
To kick off…
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