Institution: Cryptocurrency plummeted, the market is still digesting Powell's hint of a rate cut last week

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MarsBit
08-28
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On August 28, cryptocurrencies plunged this morning, with Bitcoin falling below 59,000 USDT, falling to a minimum of 58,100 USDT, and now at 59,094 USDT, a 24-hour drop of 6.17%. Ethereum fell below 2,400 USDT this morning, falling to a minimum of 2,394 USDT, and now at 2,439 USDT, a 24-hour drop of 9.23%.

Institutional analysis believes that major coins are digesting the boost they received last week from Federal Reserve Chairman Powell's hint that the Fed will cut its benchmark interest rate from a more than two-decade high.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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