Bitcoin Slides as Powell Looms & Winklevoss Drops $21M BTC on Politics

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Hey crypto trailblazer, 👋

Crypto faced headwinds today. Uncertainty around Powell’s policy sealed a dip, and Gemini’s Winklevoss twins went big on politics with a BTC-backed PAC.

Here are the highlights for you:

📉 Crypto Slides Ahead of Powell’s Powell Signal

• Bitcoin dropped to a two-week low around $112.5K, driven by investor caution ahead of Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. Markets remain uncertain about rate cut timelines, and inflation data is keeping expectations in check.
  

• Broader crypto markets dipped too. Ethereum, XRP, and Solana all slipped as sentiment weakened. The Nasdaq also waned.
  

• This suggests traders are bracing for a potentially hawkish tone from Powell or at least prolonged uncertainty around monetary easing. Stay alert for renewed volatility once he speaks.

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 🗳️Winklevoss Twins Fund Pro-Crypto, Republican PAC

• Gemini co-founders Tyler and Cameron Winklevoss donated 188.5 BTC (about $21 million) to the newly formed Digital Freedom Fund PAC, a crypto-focused political action committee supporting Trump’s crypto policy agenda.
  

• This PAC is aligned with Republican candidates and will advocate for anti-CBDC legislation, developer protections, and preserving peer-to-peer crypto freedoms.
  

• Their donation reinforces their political influence and stakes in shaping future crypto legislation.

Bottom line: Crypto is playing both offense and defense. We’re expecting volatility over the coming weeks.

Stay epic,
Epic Crypto News Team

DISCLAIMER: This newsletter is for educational purposes only. Nothing here is financial advice. Do your own research before making any investment decisions. Crypto markets are volatile and risky. Only invest what you can afford to lose.