Strong sales today on cryptocurrencies thanks to the risk-off back on the markets and to the hawkish comments of some Fed exponents. Bitcoin has come to lose more than 8% below $ 22,000, on its lowest level since the end of July; Ethereum was also bad, with nearly -6% at $ 1,740. Drops of over 10% for tokens such as Avalanche, Cardano, Solana and Dogecoin.
About $ 220 million worth of cryptocurrency positions were liquidated within an hour, with Bitcoin accounting for roughly half of that, according to Coinglass data.
Yesterday several members of the Fed made comments geared towards the continuation of the aggressive rate hike policy to combat inflation. James Bullard in particular said he was inclined to vote for a further 75bp hike in September as there are relatively positive indications from the economy and very high inflation. Meanwhile, expectations are growing for the Jackson Hall symposium on August 25-27, with Fed president Jerome Powell, who will speak on Friday 26.