Analysts: yen and US yields are the main risk for bitcoin
- —Market puts the probability of a 25 bps Fed rate hike at 85%
- —BTC fell from ~$82,400 to below $78,000 after Warsh's Jackson Hole speech
- —Spot bitcoin ETFs lost $462.73 million over four days — the first negative week since mid-August
- —The Senate votes on the CLARITY Act on Tuesday, with 60 votes needed
Why it matters: The Fed and Bank of Japan outcomes will set the direction for risk assets; rising US yields and the yen threaten a crypto selloff.
Source: CryptoPotato