India, Aug. 18 -- Cryptocurrencies including Bitcoin are trading deep in the red amidst anxiety about the Fed's monetary policy trajectory. Though rate cut hopes still remain strong, the market spotlight has turned on monetary policy ahead of the scheduled release of the FOMC minutes on Wednesday and the Jackson Hole Symposium commencing on Thursday. Outflows from Bitcoin and Ethereum Spot ETF products in the U.S. also dampened sentiment.
The weak labor market update, the fears of higher tariffs fueling inflation as well as the increased political pressure on the Federal Reserve to ease rates have turned the market spotlight on the Jackson Hole symposium scheduled for later in the week. The subject of the current year's Economic Policy Sym...