Why is Crypto Down Today? Let’s Dive In
TLDR
- Bitcoin dropped 3.2% to below $114,000 and Ether fell 5.3% to under $4,200 ahead of Fed policy events
- Crypto market cap declined by $107 billion to $3.77 trillion in 24 hours
- Fed will release July FOMC minutes on August 20 and Powell speaks at Jackson Hole on August 22
- Eight factors including tariff costs and sticky inflation suggest Fed may delay rate cuts
- Crypto-related stocks suffered bigger losses than general equities, with MARA down 5.7% and COIN down 5.8%
Cryptocurrency markets faced steep losses Tuesday as investors prepared for two key Federal Reserve events that could shape monetary policy direction. Bitcoin dropped 3.2% in 24 hours to slip below $114,000, while Ethereum fell 5.3% to under $4,200.
