First Mover Asia: Crypto Sell-Off Due to Fed Hawkishness, Possible Jump Dump of ETH, Says QCP Capital; Cryptos Decline Slightly in Monday Trading

Moya noted that bitcoin could drop below $20,000 support if the dollar, which has been gaining strength, continues on this course. “Bitcoin may have some defending the $20,000 level, but it may be tough for that level to hold if king dollar continues to appreciate leading up to Fed Chair Powell’s speech at the Jackson Hole Symposium,” he wrote.