Crypto Price Today: Bitcoin holds $26,000 ahead of US Fed Chair speech at Jackson Hole; Solana, Polygon shed up to 5%
The global cryptocurrency market cap was trading lower, around $1.05 trillion, falling 1.43% in the last 24 hours. Bitcoin (BTC) fell 1.76% to $26,002, whereas its largest peer, Ethereum, declined nearly 2% to below the $ 1,650 level.
Other top crypto tokens, BNB (2%), XRP (2.8%), Cardano (3.1%), Dogecoin (2.7%), Solana (5.5%), Polygon (3.5%), and Shiba Inu (3.2%) were also trading lower on Friday.
The crypto market has seen minor selling pressure since yesterday. The crypto fear and greed index has seen some correction as it fell by 2 points since yesterday. The index continues to be in the fear zone with a score of 39/100, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures said.
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View Details»«The market is looking forward to the US Federal Reserve Chair Jerome Powell’s speech on Friday. Investors are expecting an end to the rate hike cycles, which may impact how the crypto market performs subsequently,» Parth said.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $506 billion. Bitcoin's dominance is currently 48.35%, an increase of 0.04% over the day, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $12.67 billion, falling 22.94% in the last 24 hours.
«Market dynamics could change due to Jerome Powell's upcoming speech in Jackson Hole, which could affect the crypto markets. A hawkish stance could lower the price of Bitcoin, while a dovish stance could raise
