India, Aug. 25 -- The positive sentiment in crypto sphere attributed to dovish hints by Fed Chair Jerome Powell at the Jackson Hole symposium on Friday diminished subsequently. Most cryptocurrencies which had rallied significantly in the aftermath of strong hints of an adjustment in the monetary policy stance by Fed Chair Jerome Powell on Friday are currently trading in the overnight red zone.
In his Jackson Hole speech, Chair Powell hinted at a potential change in the Fed's monetary policy stance. He noted that in the current situation, the risks to inflation were tilted to the upside while the risks to employment were to the downside. He remarked that in challenging situations like this, the monetary policy framework demanded balancing b...