Current Cryptocurrency Prices: Bitcoin's value has dropped to around $113,000 and Ethereum to approximately $4,100 due to profit-taking ahead of macroeconomic developments.
Market Drivers: The decline in cryptocurrency prices is primarily driven by profit-taking and the unwinding of leveraged positions, with Bitcoin down 2.78% and Ethereum over 5%.
Influence of Key Events: Investors are focused on upcoming events like the FOMC minutes release and Fed Chair Jerome Powell’s speech at Jackson Hole, which could significantly impact market trends.
Market Sentiment and Strategy: The cryptocurrency market remains volatile, with investors closely monitoring ETF flows and key price levels, particularly for Ethereum, to inform their trading strategies.
