Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise
Bitcoin fell below $77,000 Friday after Fed Chair Kevin Warsh revived the threat of higher interest rates at Jackson Hole. Data from CryptoSlate shows the largest cryptocurrency dropped to as low as $76,909 before recovering to $77,712 as of press time, down about 4% over the previous 24 hours. The retreat accelerated a broader crypto […] The post Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise appeared first on CryptoSlate.
Key Takeaways
- Bitcoin fell below $77,000 Friday after Fed Chair Kevin Warsh revived the threat of higher interest rates at Jackson Hole.
- Data from CryptoSlate shows the largest cryptocurrency dropped to as low as $76,909 before recovering to $77,712 as of press time, down about 4% over the previous 24 hours.
- The retreat accelerated a broader crypto […] The post Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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