Crypto Market Consolidation Ahead of FOMC Minutes and Jackson Hole Symposium

Bitcoin and Ethereum have been stuck in consolidation mode, with Bitcoin hovering around $63,513 and building liquidity at $62,484. The currency's price action is capped by an unfilled four-hour Fibonacci volume profile (FVG) at $64,000-$65,000.

Ethereum, on the other hand, has failed to reach $2,000 and remains within its four-hour FVG. Despite this, Ethereum funds have attracted capital for five weeks in a row, while Bitcoin saw outflows of nearly $390 million last week.

The market is expecting key events in the coming days, including the release of the Federal Open Market Committee (FOMC) minutes on Thursday and the preliminary Purchasing Managers' Index (PMI) readings on Friday. The Jackson Hole symposium will also be a major focus point for traders.

According to analysts, the current optimal strategy is to stay out of the market in medium-term positions in heavy assets due to the risk of a synchronized sell-off across majors.