Bitcoin Traders Jittery Ahead of Powell’s Jackson Hole Speech

Digital assets are losing ground as traders brace for Federal Reserve Chair Jerome Powell’s closely watched address at the Jackson Hole Symposium on Friday.

Spot Bitcoin and Ether exchange-traded funds in the US have logged four straight sessions of outflows, with investors pulling a net $1.9 billion, according to data compiled by Bloomberg.

A broad rally in cryptocurrencies drove Bitcoin to a record on Aug. 14, while pushing Ether to within touching distance of its own all-time high. That momentum — fed by an array of corporate crypto accumulators built in the mold of Michael Saylor’s Strategy — ...