2 billion dollar outflow in BTC and ETH before Jackson Hole

Crypto investors are anxious ahead of Fed Chairman Jerome Powell's speech tomorrow at 17:00 Turkish time. This situation is reflected in the prices of cryptocurrencies as well as ETF investments. Exchange-traded funds based on Bitcoin and Ether (ETF) have experienced consecutive fund outflows over the last four trading days. According to Bloomberg's data, investors have withdrawn approximately 2 billion dollars from these funds.

The options market also shows that investors are taking cautious positions. The put-call ratio for August contracts, which have a size of $4 billion and are traded most heavily on the crypto exchange Deribit, has risen to 1.33. The highest open position amount is found in the 110 thousand dollar sale (put) options. This table reveals that investors are seeking protection against a possible decline due to concerns about a short-term pullback. As is known, put options serve as insurance against downward risks by granting investors the right to sell at a certain price.

Peter Chung, the research director of the trading company Presto, said, "What the put-call ratio indicates is this: Due to the high expectations of an interest rate cut in September, the market is more sensitive to the possibility of Powell speaking in a hawkish tone than in a dovish tone. The recent volatility is a reflection of investors taking positions based on an uncertain outcome of the speech."

The largest cryptocurrency by market capitalization, Bitcoin, has fallen to as low as 112,600 dollars today.

Published: August 21, 2025 20:06