Major Crypto Price Pullback Amid Macro Shifts
Bitcoin fell 2.5% to around $115,064, retreating from recent highs above $124,000. The decline was triggered by stronger-than-expected wholesale inflation data and comments from Treasury Secretary Scott Bessent that the U.S. will not increase its Bitcoin reserves. Ether dropped 5.7%, XRP 5.3%, Solana 6.2%, and Dogecoin 5.6%. Market watchers now await cues from Fed Chair Powell at the upcoming Jackson Hole symposium and analysts’ takeaways from the latest Fed minutes.
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