Quick take: Today was a brutal sell-off across tech, crypto, bitcoin-related stocks and digital assets. In short: risk-on positions got chopped ahead of a high-stakes Fed weekend. This breakdown walks through what happened, why Jerome Powell’s Jackson Hole speech matters, and practical steps you can take now.
Creator: CryptosRUs.
Key takeaways
- Markets dumped primarily because traders are bracing for Powell’s Jackson Hole speech.
- High PPI showed inflation surprise, increasing fear that rate cuts might be delayed.
- Altcoins aren’t dead — Bitcoin dominance barely budged — but volatility will remain high until the Fed signals clarity.
What happened today — the quick timeline
It was a broad risk-off day: Nasdaq, S&P, and Dow pulled back after a strong month, and crypto, bitcoin and related names saw heavy liquidations. Tech leaders like Nvidia, Microsoft, Google and Apple fell sharply. Crypto-focused stocks — Coinbase, MicroStrategy, Galaxy Digital and Robinhood — were down 6%+ as traders took profits and built cash for the weekend.
Why Jackson Hole and Powell matter
Everything comes down to Powell’s speech at Jackson Hole. This is the last time he’ll speak there during his tenure, so people are anxious. After last week’s PPI print came in hotter than expected, the market’s discount for a near-term rate cut weakened. If Powell sounds hawkish — even subtly — traders will sell risk assets hard.
The core worry: if Powell hints inflation is still firm and implies waiting on cuts, equities and crypto could lose much of their recent gains. That’s why the “second most powerful man on the planet” label fits — his words move prices fast.
What sold off and why it matters
Bitcoin slipped below key short-term levels around 113k (watch the liquidation ladders at 1127 and 1124 on a further drop). ETH dropped to the 4,000 range after filling a CME gap near 4,100. Many altcoins saw 5–8% declines in a single panic session. Still, crypto, bitcoin dominance did not spike dramatically — meaning alts sold with BTC rather than BTC outperforming — and that’s a positive sign for alt-season hopes.
Are we going to recover? When?
Yes — the market can and often does rebound quickly after panic selling, especially when fear peaks ahead of a predictable event. The question is timing. Expect heavy volatility from the Fed minutes, Thursday headlines, and Powell’s Friday speech. If Powell turns dovish, we’ll likely see a sharp V-type bounce. If he stays hawkish, more downside is possible.
Practical game plan — what to do now
- Hold if you’re long-term: you haven’t lost last month’s gains completely and Bitcoin dominance is holding.
- DCA (dollar-cost average): add slowly on weakness rather than timing bottoms.
- Build a cash pile: be ready to buy quality dips if volatility produces better entry points.
- Manage risk: trim leverage, set stop-losses or reduce position size to survive headline-driven whipsaws.
Final thoughts
Markets hate uncertainty — and Jackson Hole brings concentrated uncertainty. Today’s dump is painful, but when many participants are bearish, that can set the stage for a strong reversal if macro data and Powell cooperate. For anyone focused on crypto, bitcoin and long-term outcomes: stay patient, stick to a plan, and view short-term panic as an opportunity to reassess risk and cost-average into positions.
Stay safe out there — hold, DCA if it fits your plan, and be ready to act when volatility hands you a clear opportunity.
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