Hawkish Fed Meeting Triggers Market Correction: BTC and ETH Prices Tumble

The Federal Reserve's recent meeting at Jackson Hole delivered a hawkish tone, stating that inflation has not yet reached its target.

This announcement has significantly increased the probability of a rate hike in September, putting pressure on risk assets.

As a result, the market saw concentrated long position liquidations, with both Bitcoin and Ethereum correcting in tandem. US Treasury yields rose, suppressing overall crypto market valuation.