Bitcoin has failed the level of $20,000. Ethereum is below $1470

Bitcoin has failed the level of $20,000. Ethereum is below $1470

Bitcoin failed level $20,000. Ethereum — below $1470

On Saturday, August 27, Bitcoin quotes failed the $20,000 level, testing the range near $19,900 (on the Binance exchange). The price of Ethereum has been falling below $1470.

At the time of writing, the first asset is trading at around $20,120, the second is trading at $1485.

Bitcoin failed the $20,000 level. Ethereum — below $1470

Hourly chart BTC/USDT exchange Binance. Data: Trading View.

Bitcoin failed the $20,000 level. Ethereum — below $1470

ETH/USDT Hourly Chart on Binance Exchange. Data: Trading View.

According to Coinglass, over the past 24 hours, the volume of liquidations in the futures market exceeded $382 million. More than $167 million of this amount was in Ethereum. Basically, exchanges forced short positions.

Bitcoin failed the $20,000 level. Ethereum — below $1470

Data: Coinglass.

Earlier, the head of the US Federal Reserve System (FRS), Jerome Powell, said that in order to control inflation, the central bank will need to keep interest rates high for some time.

https://twitter .com/TheCryptoLark/status/1563346129072185344?ref_src=twsrc%5Etfw

Economist Alex Krueger expressed a similar opinion. According to him, the Fed would rather drive the economy into recession than allow excessive inflation. The specialist advised users to hedge positions and revalue them.

Recall that the president of Euro Pacific Capital, Peter Schiff, predicted the fall of bitcoin to $10,000.

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