Bitcoin, Ethereum and Jackson Hole
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Ethereum hits $4,869 for the first time since 2021 as Powell signals possible Fed rate cuts, lifting Bitcoin and altcoins.
16hon MSN
Why Ethereum Jumped 13% Today
Ethereum jumped about 13% after Jerome Powell's Jackson Hole comments hinted at possible rate relief in September. Lower interest rates generally lift risk assets because cheaper capital encourages more speculative trades. Investors should expect turbulence, but Ethereum has a bright long-term future.
Bitcoin and other cryptocurrencies were rising Friday as traders welcomed Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium. Ethereum led the charge higher, jumping by double digits.
Arthur Hayes discusses his Ethereum price prediction, suggesting a retest of $4,000 if Powell delivers hawkish remarks at Jackson Hole.
Ethereum trades at $4,211 after its strongest quarterly returns since 2021, with traders watching $4,500 liquidity for the next move.
Following dovish remarks by Federal Reserve Chair Jerome Powell at Jackson Hole, crypto markets surged above $4 trillion. The Dow Jones Industrial Average rose 2%, with the S&P 500 up 1.68% and Nasdaq 2.1%. Powell's comments hinted at potential interest rate cuts, driving a risk-on rally in both traditional and digital assets.