One remark from Waller, and
$BTC Bitcoin lost $3,000 in a day!
Last night, Fed Chair Waller struck a hawkish tone in Jackson Hole, saying inflation has not been brought under control and the Fed “still has work to do.” The market blew up immediately—the probability of a rate hike in September surged from 35% to 60%.
Bitcoin plunged from above $81,000, hitting a low of $76,871 and losing more than $3,000 in a single day. $450 million in positions were liquidated across the network over 24 hours, taking nearly 100k people out in one wave.
Even Nvidia’s strong earnings could not withstand the Fed