Crypto investors are holding their breath before Jerome Powell, chair of the Federal Reserve, speaks Friday in Jackson Hole, Wyo. Bitcoin has dipped about 1% over the past 24 hours and almost 5% over the past week to around $112,000, according to data from Binance. Ethereum, the world’s second largest cryptocurrency, is also down 2% over the past day to now $4,240, per Binance.
The pullback of the two largest cryptocurrencies tracks with a broader market decline, with the total market capitalization of all cryptocurrencies down 1% day over day to $3.9 trillion. Meanwhile, the S&P 500 is down 0.3% since markets opened Thursday.
