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Bitcoin Gives Up Gains, Slips Below $26K Ahead of Fed's Jerome Powell at Jackson Hole

Bitcoin's (BTC) price is back below the $26,000 level Thursday, giving up nearly all of yesterday's advance alongside declines in traditional markets. BTC was changing hands at $25,990 at press time, down roughly 3% from its Wednesday high of $26,789. Ether (ETH), the second largest cryptocurrency by market capitalization, was trading at around $1,640, also a near 3% decline from Wednesday's high. Both assets remain stuck in "significant downtrend," according to CoinDesk Indices' trend indicators, following the sudden tumble in digital asset prices last week. Equity markets have also turned lower, led by the Nasdaq Composite's 1.3% decline. The S&P 500 is down by 0.8%.

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