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Market Wrap: Bitcoin Slumps to Lowest Level in Over a Month After Powell Affirms Hawkish Monetary Policy

The first cryptocurrency dipped 4.3% to around $20,549, its lowest point since July 16, after the head of the U.S. central bank said the Fed would maintain its restrictive monetary course.

U.S. Fed Chair Jerome Powell doubled down on interest rate hikes, affirming hawkish monetary policy to fight inflation. (Bruce Bennett/Getty Images)

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Fed Chair Powell Doubles Down on Intent to Aggressively Hike Interest Rates

Restrictive monetary policy will likely be required for some time, Federal Reserve Chair Jerome Powell said in a long-awaited speech at the central bank’s annual economic symposium in Jackson Hole, Wyo. “The Hash” panel weighs in on Powell’s remarks and the potential impact on crypto and the wider economy.

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Bitcoin Slides Below $21K as Dollar Bounces After Powell’s Hawkish Comments

Bitcoin dipped Friday while the U.S. dollar slightly strengthened following Federal Reserve Chairman Jerome Powell’s hawkish speech at the U.S. central bank’s annual Jackson Hole conference. CoinDesk’s Helene Braun discusses the implications for the crypto markets. Plus, CoinDesk’s Christie Harkin on Hodlonaut’s defamation case against Craig Wright.

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Bitcoin Tumbles Below $21K After Powell’s Hawkish Remarks

The Federal Reserve chair said households and businesses should prepare for pain as the central bank works to bring down inflation.

El precio de bitcoin podría continuar cayendo tras el discurso del presidente de la Fed. (Source: TradingView)

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Federal Reserve’s Powell: Inflation Battle Not Yet Close to Finished

The U.S. central bank chair, in a speech Friday morning, doubled down on his intent to aggressively hike interest rates to bring inflation down.

Fed Chair Jerome Powell at this year's economic symposium. (C-Span)

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Markets Should Prepare for Persistent Inflation and Continued Rate Hikes

U.S. Federal Reserve speakers were out in force one day ahead of Chairman Powell’s keynote address at the Jackson Hole conference.

(Matt Henry Gunther/Getty Images)

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Crypto Outlook Ahead of Fed Chair Powell’s Jackson Hole Speech

Bitcoin (BTC) and ether (ETH) saw small gains ahead of Federal Reserve Chairman Jerome Powell’s speech Friday at the annual Jackson Hole conference. Tuttle Capital Management CEO & CIO Matthew Tuttle explains how “Powell could change everything” in anticipation of the symposium.

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Powell’s Upcoming Jackson Hole Speech ‘Could Change Everything’: Tuttle Capital CEO

Tuttle Capital Management CEO & CIO Matthew Tuttle discusses his analysis and outlook on the “risk-off” attitude in the crypto markets and how Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole symposium “could change everything.”

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Bitcoin's Pre-Jackson Hole Decline Leaves Room for 'Buy the Fact' Bounce

"No matter what Powell says or the Fed does, the market insists on reading/hearing him dovish," one observer said.

Bitcoin may regain poise after Powell speech (bbeavis/Pixabay, modified by CoinDesk)