Crypto Economy Slides Under 1 Trillion, as Bitcoin and Ethereum Dive Below Previous Support Zones

On Saturday, August 27, 2022, the global market capitalization of all the crypto assets in existence dropped under the $1 trillion mark and the leading crypto asset bitcoin slipped below the $20K region for the first time since mid-July. Digital currency markets this weekend are feeling the pain as the global cryptocurrency. That was after the crypto economy shed more than 6% the 24 hours prior. The crypto market’s major decline took place almost immediately after Fed chair Jerome Powell gave his speech at the annual Jackson Hole Economic Symposium on Friday.