Crypto investors are holding their breaths before Jerome Powell, chair of the Federal Reserve, speaks Friday in Jackson Hole, Wyoming. Bitcoin has dipped about 1% over the past 24 hours and almost 5% over the past week to around $112,000, according to data from Binance . Ethereum, the world’s second largest cryptocurrency, is also down 2% over the past day to now $4,240.

The pullback of the two largest cryptocurrencies tracks with a broader market decline, with the total market capitalization of all cryptocurrencies down 1% day-over-day to $3.9 trillion. Meanwhile, the S&P 500 is down 0.3% since markets opened Thursday.

“Investors appear increasingly doubtful that Powell will signal a pivot at Jackson Hole,” James Butterfill, head of research at the crypto asset manager CoinShares, tol

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