Bitcoin (BTC) briefly climbed above $61,000 on Tuesday but failed to hold above that level as sellers immediately pushed the price back down to $60,000. Increasing selling pressure has pushed BTC back below $60,000 and the cryptocurrency is currently trading around the $59,500 mark.
Crypto markets registered notable gains on Tuesday, with all major cryptocurrencies registering gains. However, the markets have struggled and most coins are currently in the red. Expectations around the Federal Reserve meeting minutes and Jackson Hole Symposium are also playing a crucial role in the prevailing scenario in crypto as traders are taking a conservative approach.
Crypto markets await comments from the Federal Reserve:
The minutes of the July Federal Reserve meeting will be released on Wednesday. This will be followed by the Jackson Hole Symposium on Thursday. Traders will be looking ahead to the annual economic symposium, which could provide some clarity on interest ratesâŠ
