Crypto Sell-off Deepens
Cryptocurrencies declined further by Wednesday morning as markets geared for the release of the FOMC minutes as well as the keenly anticipated comments of Fed Chair Jerome Powell from the Jackson Hole symposium thereafter. Massive outflows from Bitcoin and Ethereum Spot ETF products in the U.S. also dampened sentiment for digital assets.
The minutes of the July FOMC to be released on Wednesday afternoon is expected to reveal the extent of divergence in the monetary policy approach of the Fed members. With the FOMC decision resulting in a split vote, markets are speculating on the extent of opinion in favor of status quo and the extent of opinion in favor of a monetary easing, in the light of the subsequent release of key economic…
