Crypto investors are on edge before Jerome Powell speaks at Jackson Hole, Wyo. Bitcoin drops 1% in 24 hours and nearly 5% in a week to $112,000. Ethereum also down 2% to $4,240. Total crypto market cap down 1% to $3.9 trillion. S&P 500 down 0.3%.

Investors unsure if Powell will signal a pivot. Traders speculate on Fed interest rate cut in September. Money may flow from U.S. Treasury bills to riskier assets like crypto.

Powell’s speech at Jackson Hole scrutinized. Analysts anticipated rate cuts after moderate inflation increase in July. Producer price index surge led to crypto market dip.

Market observers see dip as correction, not trend break. Pro-crypto policies intact in the U.S. Stablecoin adoption increases. Expect pullback to be absorbed and trend higher to continue.

Source: Fortune.com

Read more at Yahoo Finance: Bitcoin dips ahead of Fed chair’s remarks at Jackson Hole