Business Standard

Bitcoin stuck in narrow range as traders brace for Jackson hole

Cryptocurrencies have been trading in tandem with US equities this year as both have been swayed by the Federal Reserve's interest-rate-hiking path

bitcoin, Crytpocurrency
Premium

Other cryptocurrencies, including Ether, also rose, with an index of the 100 largest tokens adding roughly 2.3%.

Vildana Hajric | Bloomberg
The usually volatile Bitcoin has gotten stuck trading within a narrow range ahead of the Federal Reserve’s annual Jackson Hole gathering later this week. 
 
The world’s largest digital coin by market value rose as much as 2.6% Tuesday to hover around $21,600, though it’s largely been meandering below the $22,000 level since it started to sell off in mid-August. Other cryptocurrencies, including Ether, also rose, with an index of the 100 largest tokens adding roughly 2.3%. 

And it’s happening as US stocks try to stage a comeback from Monday, when they had their worst session since mid-June. Traders are bracing for

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 23 2022 | 11:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com