Crypto got hit after a hawkish Jackson Hole speech.
BTC fell ~3.3% as markets repriced the odds of a September rate hike from ~35% to ~57%.
But here's what I find interesting:
Just one day earlier, U.S. crypto ETFs saw:
🟠 BTC: +$242M
🔵 ETH: +$235M
🟣 SOL: +$61M
⚫ HYPE: +$24M
🔴 XRP: +$18M
BTC and ETH both recorded their 9th consecutive day of inflows.
So yes, crypto suffered immediately after the Fed shock.
But the institutional bid was still there going into Jackson Hole.
If those flows continue, I wouldn't be surprised to see crypto recover over the next 1–2 days.
The macro shock may have hit prices.
It hasn't necessarily broken the underlying demand.
BTC fell ~3.3% as markets repriced the odds of a September rate hike from ~35% to ~57%.
But here's what I find interesting:
Just one day earlier, U.S. crypto ETFs saw:
🟠 BTC: +$242M
🔵 ETH: +$235M
🟣 SOL: +$61M
⚫ HYPE: +$24M
🔴 XRP: +$18M
BTC and ETH both recorded their 9th consecutive day of inflows.
So yes, crypto suffered immediately after the Fed shock.
But the institutional bid was still there going into Jackson Hole.
If those flows continue, I wouldn't be surprised to see crypto recover over the next 1–2 days.
The macro shock may have hit prices.
It hasn't necessarily broken the underlying demand.