Crypto Slips Before Jackson Hole
The crypto market resumed its decline on Monday after a weekend pause, pressured by a mix of bearish technical signals, heavy leverage unwinds, shifting Fed rate-cut expectations, and profit-taking.
Stronger U.S. economic data raised doubts about September easing, dampening risk appetite and triggering outflows from speculative assets.
Market participants refrained to make aggressive bets ahead of Jerome Powell’s Jackson Hole address (Aug. 21–23), with traders now cautiously positioning for potential September cuts.
Profit-taking followed a stellar institutional-led run, including inflows into digital-asset treasury companies such as Michael Saylor’s Strategy, which now holds more than $72 billion in Bitcoin. Last week, Spot Bitcoin ETFs attracted $547.6 million in net inflows, while Spot Ether ETFs saw a much larger $2.8 billion.
Major tokens led the retreat, dragging overall market capitalization below $4 trillion after last week’s record surge. Bitcoin slipped as much as 2.2% to ~$115,000, while Ether fell over 4% to dip under $4,300. The combined market value fell to $3.9 trillion, its lowest in more than two weeks,.
Altcoins bore the brunt of the selloff, with BNB, SOLANA, XRP, TRON sliding about 2-6%…
Meanwhile, Solana briefly processed over 100,000 transactions per second, with developers suggesting it could eventually sustain 80,000 TPS.
Grayscale Investments also filed with the SEC to launch a Dogecoin ETF. However, DOGE dropped 4.4% after the Qubic community—fresh from a Monero attack—voted decisively to target Dogecoin over Zcash and Kaspa.
Outlook
This week, global investors eyes are locked on the United States as four major economic events are set to unfold. Starting with the Trump-Zelensky meeting, FOMC minutes, then Initial jobless claims, and lastly Fed Chair Powell’s speech.
Going forward, The Jackson Hole symposium now holds the key—dovish signals could spark a rebound, while hawkish tones may push prices lower. For now, expect volatility, with traders rotating between Bitcoin, Ethereum, and stronger altcoins.
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