T Vol. 24h: $51.16 B and the broader crypto market remain jittery amid Friday’s options expiry, ahead of Jerome Powell’s Jackson Hole speech. A total of $3.82 billion in Bitcoin options expired today,

Crypto markets are treading water as investors wait for Fed Chair Jerome Powell’s Jackson Hole speech, where a hawkish tone could drag bitcoin lower while a dovish pivot may offer relief.

Bitcoin price missed the $120,000 breakout target while Ethereum approached all-time highs near $4,900, with market data revealing three key reasons for BTC’s underwhelming performance.

Bitcoin rose more than 2% on Friday after Federal Reserve Chair Jerome Powell signaled it may be time to cut interest rates amid mounting concerns about the labor market during his speech at the central bank’s Jackson Hole symposium.

Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium. The first one is the 180-day call-put skew derived from options trading on Deribit, the largest crypto options exchange by volume and open interest.

Crypto traders had been preparing in recent days for a more-hawkish tone from Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole.