Crypto markets saw significant liquidations amounting to $270 million over the past 24 hours, driven largely by ether (ETH) and Bitcoin (BTC) longs, with investors adjusting their positions ahead of the Jackson Hole economic symposium where Jerome Powell will speak. Speculation of a September Federal Reserve rate cut diminished, decreasing the odds of a large 50-basis-point cut. Consequently, ETH's implied volatility rose while Bitcoin prices dipped to their lowest level in nearly two weeks at $115,036, and ETH traded around $4,235. XRP showed more resilience, priced at $3.02. Analysts suggest that a majority of the liquidations were tied to moderate price pullbacks of 3% for ETH and 2% for BTC, indicating a recalibration rather than a significant market shift. The likelihood of BTC reaching $100,000 by September's end increased to 21%, while the probability of ETH correcting to $4,000 climbed to 60%.

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