Published on 28 Aug 2023 on Forkast News via Yahoo Finance
Crypto market cautious after Fed’s Powell says US inflation still ‘too high’
Bitcoin, Ether and other top 10 non-stablecoin cryptocurrencies held steady on Monday morning in Asia. Crypto investor sentiment remains cautious, although JPMorgan Chase & Co. analysts report that downward price momentum in the market has slowed. The Forkast 500 NFT Index gained after Donald Trump’s arrest triggered a surge in sales of the former U.S. president’s signature NFT collection. U.S. equity futures gained despite U.S. Federal Reserve chair Jerome Powell using his highly anticipated Jackson Hole speech on Friday to double down on the potential for interest rates to stay higher for longer.
JP Morgan finds ‘limited downside’ for crypto