Bitcoin exchange Coinbase tweets "1 BTC" as Bitcoin's price plummets below $114,000
In the ever-evolving world of cryptocurrencies, the market is trading down early Wednesday, with Bitcoin dipping 2.05% in the last 24 hours to $113,269. This latest dip comes as investors closely watch the Federal Reserve's meeting minutes and the annual economic symposium in Jackson Hole, Wyoming, for hints about the central bank's remaining policy sessions this year.
Short-term Bitcoin holders have been taking profits, as evidenced by increased exchange inflows. In fact, 50,026 BTC worth nearly $5.69 billion were moved to exchanges at a loss by these holders in the past two days.
Meanwhile, the crypto traders are also keeping an eye on Thursday's jobless claims data. The unemployment figures could potentially impact the market's trajectory.
Amidst this volatility, a tweet from major cryptocurrency exchange Coinbase served as a reminder that Bitcoin's value remains unchanged despite short-term price swings. The tweet, posted during a broader market drop, stated simply "1 BTC = 1 BTC". Interestingly, Bitcoin's price hit $122,000 shortly after the tweet was posted.
The Fed Chairman, Jerome Powell, is scheduled to speak at the symposium this Friday. If Powell indicates imminent dovish policy, cryptocurrencies may rebound. However, the most recent indication related to a change in the Federal Reserve's monetary policy was the expectation that the Fed will ease its interest rate policy in the fourth quarter of 2025 as inflation uncertainties diminish, according to an analysis from July 2025 by LGT Private Banking.
It's important to note that the tweet may or may not be related to ongoing conversations about the latest market dip or upcoming or current announcements from the exchange.
Bitcoin's current price is below its record high of $124,533 reached on Aug. 14, 2023. The digital currency has dropped nearly 7% in the last week, adding to the market's overall uncertainty.
As always, the cryptocurrency market remains a dynamic and unpredictable space, with investors encouraged to closely monitor news and announcements from the Federal Reserve and other key players in the industry.
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