Bitcoin Drops Below Support Amidst Powell’s Jackson Hole Speech Anticipation

Bitcoin has experienced a downturn, falling below crucial technical levels as Chair Jerome Powell prepares to deliver his highly anticipated address at the Jackson Hole Economic Policy Symposium. Traders anticipate heightened volatility following Powell’s speech. Options markets reflect this potential for significant price swings in Bitcoin (BTC). experts warn that market participants are bracing for a considerable shift in BTC prices, potentially ranging from ±2.0% as a result of Powell’s remarks. Financial markets may experience notable movements following Powell’s address, with the crypto space already showing caution due to anticipated guidance.