Bitcoin, Ethereum, Dogecoin Slip Ahead Of Jerome Powell's Jackson Hole Speech: Analyst Predicts 'Grinding Bottom' For Apex Crypto, Identifies This Key BTC Level

Major cryptocurrencies experienced a significant drop on Thursday evening in anticipation of Federal Reserve Chair Jerome Powell's upcoming remarks at the Jackson Hole Symposium hosted by the Kansas City Federal Reserve. This annual gathering on Friday unites central bankers and economists at the highest levels, making it a pivotal event in the market.

Timeline of Bitcoin, Dogecoin, Ethereum

In a world where nations are vying for dominance in the digital economy, Oman's recent announcement of a whopping $1.1 billion investment in bitcoin mining infrastructure has taken many by surprise.

Over the last week, Ethereum (ETH) has seen its price take a slight hit following the general market crash due to reports of a massive Bitcoin sell-off. According to data from CoinMarketCap, ETH is down by 5.01% in the last seven days, bringing its total price loss in the previous month to 10.80%.

Bitcoin's supply last active less than a month ago has plummeted to an 8-year low. This often overlooked metric provides essential insights into the market's current dynamics and is useful when analyzing historical trends.

In the expanding realm of cryptocurrency, decentralization is the battle cry, yet there's a startling reality surfacing. Binance's latest revelations confirm that all major Ethereum L2 rollups are, in fact, centralized.

Following the crypto market crash last week, Ethereum whales look to be gearing up for a recovery as they accumulate ETH. This accumulation trend is very telling of what these large investors expect the market to do next, which could serve as an indication of what's to come.

Failed crypto custodian Prime Trust revealed new details about its past financial shortfalls in a filing submitted to bankruptcy courts on Aug. 24. That filing indicates that Prime Trust's investment in the TerraUSD (USTC) stablecoin resulted in millions of dollars of losses for the company.

In a recent development reported by Glassnode, Ethereum has achieved a significant milestone as the Total Value locked in the ETH 2.0 Deposit Contract surged to an all-time high of 28,019,877 ETH. This landmark underscores the growing confidence in Ethereum's transition to a proof-of-stake consensus mechanism.

On-chain data shows Bitcoin is currently not satisfying a condition that has historically occurred alongside major bottoms in the price. Bitcoin Supply In Profit Is Still Greater Than Supply In Loss In a new post on X, James V.

Widely followed crypto analyst Jason Pizzino thinks Bitcoin (BTC) could be forced to endure an unexciting couple of months before it flips bullish again. In a new YouTube video, Pizzino tells his 289,000 subscribers that BTC appears to be moving along a “grinding bottom” after its significant price dip last week.

A widely followed crypto analyst is breaking down Ethereum (ETH) and Bitcoin (BTC) while naming altcoins he thinks could outperform the slumping markets. Crypto trader Michaël van de Poppe suggests to his 663,900 followers on the social media platform X that, historically speaking, ETH's current price dip might have something to do with BTC's upcoming halving.