This Week in Coins: Bitcoin, Ethereum Sink on Freaky Fed Friday

[Jaya60]

The week was relatively quiet in terms of market-moving news—until Fed Chair Jay Powell took the podium in Jackson Hole. The price plummet was triggered by Federal Reserve Chair Jay Powell's remarks in Jackson Hole that the Fed will keep raising interest rates as long as it takes to combat inflation. The comments sent stocks reeling as well, not just crypto.

To kick off the weekend, all of the top 10 cryptocurrencies by market cap are showing a net loss over the past seven days, except for Cardano (ADA), which is anticipating a hard fork coming next month. Bitcoin (BTC) is down 5% in the past week, Ethereum (ETH) down 6%, Solana (SOL) down 10%, Dogecoin (DOGE) 8%.more info