Bitcoin Price Dips to $115K as Traders Await Fed Chair Powell’s Jackson Hole Speech

• South Korea has suspended all crypto lending services, citing borrower risk.
• The U.S. SEC delayed its decision on XRP ETFs until October 2025.
• Despite recent dips, analysts say Bitcoin and Ethereum could hit $600K and ETH $15.5K by 2026.

The crypto market has been under pressure since last week, with Bitcoin dipping to $114K, Ethereum trading under $4,200, and XRP struggling to hold the $3 mark. That bearish sentiment is extending into today amid a mix of regulatory news and cautious positioning ahead of a key speech from the Federal Reserve.

Bitcoin Sentiment Cools Ahead of Powell’s Speech

Bitcoin futures sentiment has cooled after falling to 36% from a high of 70% earlier this month when the asset peaked at $124,400. At press time, Bitcoin trades near $115K, with short-term sellers still in control. 

The market greed index is now at 53, a neutral position suggesting the market has shifted away from euphoria into a holding pattern.

Investors are now waiting for U.S. Federal Reserve Chair Jerome Powell’s upcoming speech, which could set the tone for crypto amid surging hopes of a first rate cut since December 2024 by next month. 

Despite a rec…

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