Crypto Markets Trade Positively Despite Anxiety Ahead of Jackson Hole Symposium

Crypto markets have been trading on a positive note due to strong inflows into U.S.-listed Bitcoin Spot ETF products. However, anxiety ahead of the Jackson Hole central bankers' symposium and Fed Chair's speech weighed on market sentiment.

The price of Bitcoin rose to a 24-hour high of $80,516 but retreated to $79,247. The overall crypto market capitalization increased to $2.67 trillion, implying an overnight gain of less than 2 percent.

Liquidation of short positions exceeded the liquidation of long positions during the past 24 hours, with $245 million in short position liquidations compared to $142 million in long position liquidations.