Powell’s Jackson Hole Speech Sparks Crypto Rally: BTC Hits $115K, ETH Eyes $5K
Following Federal Reserve Chair Jerome Powell’s Jackson Hole speech, the cryptocurrency market experienced a notable surge, with Bitcoin trading around $115,823 and Ethereum near $4,731. Powell’s relatively dovish stance and hints at a potential interest rate cut in September fueled optimism among investors. Analysts suggest that the short-term rally is supported by positive sentiment, ETF flows, and institutional accumulation, but caution that risks remain, including potential overvaluation, macroeconomic factors, and stock market volatility. Ethereum has gained roughly 10% in 24 hours, surpassing $4,800 briefly, while Bitcoin peaked at $117,400. Experts predict that BTC, ETH, and other major altcoins like BNB, SOL, and LINK could reach new highs by year-end if favorable conditions continue.