Stuck in a tight range roughly between $29,000 and $30,000 for several weeks, bitcoin (BTC) Thursday afternoon dropped to the low $28,000 area thanks to the economic news. That, in turn, triggered a chain of stops and liquidations that sent bitcoin quickly plunging below $25,000. A very modest recovery since has brought the price back to $26,000 at press time.
Source: https://www.coindesk.com/markets/2023/08/21/bitcoin-bulls-mull-the-meaning-of-new-fed-messaging-on-inflation-and-interest-rates/?utm_medium=referral&utm_source=rss&utm_campaign=headlines