Ether falls 3% as investor focus on Jackson Hole forum
The world's leading cryptocurrencies, Bitcoin (BTC) and Ether (ETH) fell more than 1% and 3%, respectively, on Monday as investors continue to add volatility to the market following the latest Fed updates.
Last week bitcoin fell below the $22,000 level, driven by the latest minutes of the Federal Open Market Committee (FOMC) meeting and news that the Fed may continue to raise interest rates to cool inflation. Besides, this week, Fed officials and banking figures from around the world will meet for the annual Jackson Hole symposium on August 25-27, an event that can add extra volatility to the crypto markets.
Bitcoin fell by 1.41% at 6:24 am ET, selling for $21,199, while Ether dropped 3.12% to go for $1,567.78.