Bitcoin and Ether fall as crypto drops after Powell’s Jackson Hole speech


Cryptocurrency prices retreated on Friday, following stocks lower as hawkish comments from Federal Reserve Chairman Jerome Powell spurred a broad-based selloff in risk assets. Bitcoin BTCUSD, -2.34% was down 3.7% to $20,821 in recent trade, while Ethereum’s Ether token ETHUSD, -4.10% was down 5.9% at $1,600. Other popular cryptocurrencies, including Cardano ADAUSD, -1.87%, and Solana SOLUSD, -3.82%, also saw prices decline. The main U.S. stock benchmarks were also in the red, with the S&P 500 SPX, -3.37% down 2%, the Dow Jones Industrial Average DJIA, -3.03% down 1.7% and the Nasdaq Composite COMP, -3.94% down 2.5%.

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