About $2 trillion evaporated from stocks, commodities, and crypto in just a little over two hours!
What happened? 👇🏾
1️⃣ The Fed chair, Jerome Powell, said that inflation is still a cause for concern at the Jackson Hole summit.
2️⃣ The likelihood of a rate hike in September jumped from 34% to 61.7% within hours.
3️⃣ U.S. Treasury bond yields on the two-year maturity reached their highest level in a month.
In short: the market started pricing in a greater chance of a rate hike, and liquidity quickly pulled out of high-risk assets
$BTC
What happened? 👇🏾
1️⃣ The Fed chair, Jerome Powell, said that inflation is still a cause for concern at the Jackson Hole summit.
2️⃣ The likelihood of a rate hike in September jumped from 34% to 61.7% within hours.
3️⃣ U.S. Treasury bond yields on the two-year maturity reached their highest level in a month.
In short: the market started pricing in a greater chance of a rate hike, and liquidity quickly pulled out of high-risk assets
$BTC