{"id":66371,"date":"2022-08-27T10:15:36","date_gmt":"2022-08-27T07:15:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66371"},"modified":"2025-09-07T00:57:43","modified_gmt":"2025-09-06T21:57:43","slug":"bitcoin-slips-below-20000-ethereum-under-1470","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-slips-below-20000-ethereum-under-1470\/","title":{"rendered":"Bitcoin slips below $20,000; Ethereum under $1,470."},"content":{"rendered":"

On Saturday, 27 August, Bitcoin prices broke below $20,000, testing a range near $19,900 on the Binance exchange. Ethereum traded below $1,470.<\/p>\n

At the time of writing, the first asset was trading around $20,120, the second around $1,485.<\/p>\n

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\"Bitcoin
Ticker BTC\/USDT on Binance. Data: TradingView.<\/figcaption><\/figure>\n
\"Bitcoin
Hourly chart ETH\/USDT on Binance. Data: TradingView.<\/figcaption><\/figure>\n<\/figure>\n

According to Coinglass<\/a>, over the last 24 hours the volume of liquidations in the futures market exceeded $382 million. More than $167 million of this total was attributed to Ethereum. Exchanges largely forced the closing of short positions.<\/p>\n

\"Bitcoin
Data: Coinglass.<\/figcaption><\/figure>\n

Earlier, the head of the United States Federal Reserve (Fed), Jerome Powell, said that to control inflation the central bank would need to keep interest rates high for some time.<\/p>\n

Digital assets reacted<\/a> negatively to the Fed chair’s remarks. A similar reaction was seen in the traditional stock market: for example, the Nasdaq fell<\/a> almost 4% \u2014 the largest intraday drop since late June 2022.<\/p>\n

The crypto investor and blogger Lark Davis noted that in the near term the Fed will not change its stance, and therefore the markets will suffer “even more pain”.<\/p>\n

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FED not pivoting any time soon. More pain will be inflicted on markets. #bitcoin<\/a> #crypto<\/a> #stocks<\/a><\/p>\n

\u2014 Lark Davis (@TheCryptoLark) August 27, 2022<\/a><\/p><\/blockquote>\n