Crypto falls as markets brace for possible Fed hawkishness

The crypto market continued its slide as investors braced for the release of the Federal Reserve’s July meeting minutes and Fed Chair Jerome Powell’s upcoming remarks at Jackson Hole, according to CoinDesk. Bitcoin (BTC) dropped below $113,000, with Ethereum (ETH) and XRP also tumbling, while crypto-linked stocks such as Coinbase and Strategy posted even steeper losses. The Fed’s higher-for-longer stance on interest rates may weigh more heavily on digital assets than on traditional equities, given crypto’s dependence on cheap liquidity. Powell is expected to stress consensus at the Fed, with a pause the likely outcome, though a dovish tilt could lift crypto markets.