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.