​​Bitcoin has failed the level of $20,000. Ethereum is below $ | Crypto_NFT

​​Bitcoin has failed the level of $20,000. Ethereum is below $1470

On Saturday, August 27, Bitcoin quotes failed the $20,000 level, testing a range near $19,900 (on the Binance exchange). The price of Ethereum fell below $1470.
Over the past 24 hours, liquidations in the futures market have exceeded $382 million, with more than $167 million of that amount coming from Ethereum, according to Coinglass. Basically exchanges forcibly closed short positions.
Earlier, the head of the US Federal Reserve System (FRS), Jerome Powell, said that in order to control inflation, the central bank would need to keep interest rates high for some time.
Digital assets reacted negatively to the words of the Fed chairman. The traditional stock market showed a similar reaction, with the Nasdaq index dropping almost 4%, the biggest intraday drop since the end of June 2022, for example.
Crypto investor and blogger Lark Davis noted that the Fed will not change its position in the near future, and therefore the markets will be hurt even more.
Economist Alex Krueger expressed a similar opinion. According to him, the Fed would rather drive the economy into recession than allow excessive inflation. The specialist advised users to hedge positions and revalue them.
Recall that the president of Euro Pacific Capital, Peter Schiff, predicted the fall of bitcoin to $10,000.