# Crypto Stocks Circle, Coinbase Crash Before Powell’s Jackson Hole Speech
## Introduction
Cryptocurrency-related stocks such as Circle (NYSE: CRCL) and Coinbase (NASDAQ: COIN) are experiencing a significant decline in value leading up to Jerome Powell’s anticipated speech at Jackson Hole on August 22. This decline is attributed to growing macroeconomic uncertainty and dwindling expectations of Federal Reserve rate cuts during the upcoming September FOMC meeting.
## The Decline of Crypto Stocks
Both Circle (NYSE: CRCL) and Coinbase (NASDAQ: COIN) have witnessed a notable decrease in their stock prices over the past week, with declines ranging between 7% to 12%. Investors are displaying caution amidst the turbulent market conditions, bracing themselves for potential impacts stemming from Powell’s upcoming address.
## Market Sentiment and The Future Outlook
The prevailing sentiment in the market is one of apprehension as investors await further insights from Powell on potential monetary policy shifts. The anticipated revelations could significantly influence the trajectory of crypto stocks and the overall market performance in the coming weeks.
## Conclusion
The recent downturn experienced by crypto stocks like Circle and Coinbase underscores the sensitivity of the market to external factors such as speeches by key financial figures like Jerome Powell. As investors navigate through this uncertain climate, the implications of Powell’s upcoming address at Jackson Hole on August 22 remain pivotal in determining the future trajectory of these cryptocurrency-related stocks.