Institutions: Cryptocurrences have plunged, and the market is still digesting the hint of Powell's interest rate cut last week

On August 28th, cryptocurrencies generally fell, Bitcoin fell below the 60,000 dollar mark, and the lowest was close to falling to the 58,000 dollar mark; in addition, Ethereum fell sharply, and the intraday decline expanded to 10%. Institutional analysts believe that major tokens are digesting the boost received last week from Federal Reserve Chairperson Powell's hint that the Federal Reserve will lower the base rate from a two-decade high.