Crypto Dips Ahead of Fed Signals

[umair]

Bitcoin and major altcoins took a noticeable hit this week. As of August 19, prices are slipping fast—Bitcoin fell nearly 3% to around $113K, and Ethereum dropped over 5% to about $4,100. It's not just coins—crypto-related stocks like Coinbase, Robinhood, and Galaxy Digital are also down significantly, some more than 10%. Even Circle and other blockchain firms aren’t escaping the red.

This isn’t happening in isolation. The tech-heavy Nasdaq is also trending lower, and crypto tends to move in lockstep with broader tech market sentiment. Investors seem jittery ahead of the Jackson Hole economic symposium, where the Fed is expected to give clues about future interest rate moves. If Powell sounds too hawkish, the selling pressure could intensify.

User1: Rough day across the board. Galaxy down 11%, Coinbase down 5%… This feels like more than just profit-taking.

User2: Yeah, people are nervous before Powell talks. If he hints that rates will stay high, risk assets like crypto always get hammered.

User3: True, but honestly this could just be a correction after that big rally last month. BTC went from $97K to $124K too fast.

User4: I’m watching for BTC support at $110K. If it holds, I might start scaling back in. But I’m not touching alts until we hear from the Fed.

User5: ETH under $4K might be a steal if sentiment flips. But right now, it’s just about survival and watching the macro.