Investors brace for Powell speech as Bitcoin dips near $112K

Bitcoin fell below $113,000 as investors braced for Jerome Powell’s Jackson Hole speech that could set the US Fed’s path on interest rate cuts.

Cryptocurrency investors were bracing for the US Federal Reserve’s annual gathering in Jackson Hole on Friday, where Chair Jerome Powell’s remarks may provide key signals on interest rate policy heading into September’s Federal Open Market Committee meeting.

Bitcoin (BTC) briefly fell to $112,565 on Wednesday, a two-week low last seen on Aug. 3, Cointelegraph data showed.

Bitcoin’s dip below $113,000 was a snapshot of “rising nerves in the market” as macroeconomic tensions surrounding Powell’s speech were causing “fear spikes” among digital asset traders, according to Ryan Lee, chief analyst at Bitget exchange.

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