Bitcoin traders jittery ahead of Powell's Jackson Hole speech
Bitcoin traders jittery ahead of Powell's Jackson Hole speech Yahoo Finance . In this article: (Bloomberg) -- 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. Most Read from 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 — now appears to be dwindling. Options activity shows traders turning defensive. The put-to-call ratio for Aug. 22 contracts jumped to 1.33 on Deribit, the derivatives exchange, with $3.8 billion in Bitcoin options expiring. The largest open interest...