Crypto Market Meltdown: $120B Vanishes as Fed Speech Approaches 🐎💸

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Behold! The crypto circus has lost $120 billion in 24 hours-a two-week low of $3.86 trillion! It’s like someone told Wall Street, “Hey, let’s play Russian roulette with your savings!” Bitcoin? Oh, he’s down to $113K, the lowest since he tried to sneak into a ‘Fitbit’ convention. Ethereum? Dropped below $4,100, erasing all last week’s gains like a toddler with a wet wipe.

The market’s doing a tap-dance of panic ahead of Jerome Powell’s Jackson Hole speech. Jason Williams, Bitcoin’s top mind, says it’s “pricing in a hawkish tone”-which means Powell might be more eagle than dove. Spoiler: If he’s a hawk, you’ll need a helmet. If he’s a dove, you’ll need a parachute. Either way, hold on to your wallets!

Rate cuts? September’s off the table unless Powell does a backflip. Gennadiy Goldberg of TD Securities says, “The market HATES uncertainty.” Newsflash: So does everyone else! But guess what? We’re stuck in limbo, like a TikTok dance challenge that no one remembers the steps to.

“Market HATES uncertainty and we are seeing that in the price action right now.”

CME Fed Watch Tool says there’s an 85% chance of a rate cut in September. But if Powell goes full hawk, that number could plummet faster than a crypto influencer’s credibility. And don’t get me started on Trump, who’s yelling, “There’s no inflation!” like he’s the king of denial. He even wants Powell to “inform” him that he’s “hurting the housing industry.” Classic!

BREAKING: President Trump asks for somebody to “inform Jerome ‘Too Late’ Powell that he is hurting the housing industry.”

– The Kobeissi Letter (@KobeissiLetter) August 19, 2025

Meanwhile, David Bailey of Bitcoin Magazine says crypto sentiment flickers like a flame-euphoria one minute, panic the next. “Many Bitcoin have exchanged hands through such emotions,” he sighs. Santiment adds that retail traders did a 180 after Bitcoin hit $113K. Social media’s bearish enough to make a grizzly bear jealous.

“One of the most hilarious aspects of Bitcoin is sentiment. It flickers like a flame.”

And there you have it, folks! A financial tightrope walk where the rope is made of confetti and the net is optional. BTC’s at $113,520, but its next move depends on Powell’s speech. Buckle up-it’s gonna be a wild ride! 🚀💣

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2025-08-20 11:00