#BTCvsETH Crypto Market Rallies Ahead of Jerome Powell Speech And EU Trade Deal News; ETH, DOGE Lead the Gains
Crypto market shows strength with ETH extending weekly gains to 25% before Jerome Powell speech and Lutnick being optimistic on EU trade deal
ETH, XRP, DOGE rally fuel bullish sentiment across crypto market nearing $4 trillion.
Federal Reserve Chair Jerome Powell is set to speak on Tuesday, with markets watching closely for clues on monetary policy direction.
U.S. Commerce Secretary Howard Lutnick shared optimism on EU trade deal before August 1 deadline.
Crypto market shows strength heading into a new week as Ethereum price (ETH) gains another 4% leading the rally, followed by similar gains in XRP, SOL, ADA, DOGE. Investors are keen on Fed Chair Jerome Powell’s speech on Tuesday, with expectations of commentary on Fed rate cuts amid mounting pressure for resignations from the Trump administration. Furthermore, with the Trump tariff deadline of August 1 approaching, U.S. Commerce Secretary Howard Lutnick said he’s hopeful of a trade deal with the EU.
Crypto Market Rally: ETH, DOGE Lead the Pack
Ethereum (ETH) continues to extend its market dominance, gaining another 4% to $3,800, while Bitcoin rests at $118,000. With ETH extending its weekly gains to 25%, the broader crypto market is once again flirting with $4 trillion market cap. In the last 24 hours, the broader market liquidations have soared to $365 million, of which more than $210 million is in short liquidations.
On the other hand, Jerome Powell is facing mounting pressure for resignation from the Trump administration. While President Trump has been stressing a 300 bps rate cut, Powell has refused to budge. Market observers will be watching whether the Fed Chair makes any resignation statements, while his term is set to officially end in May 2026.
EU Trade Deal on Radar
On Sunday, July 20, Commerce
While the broader crypto market rallied, Bitcoin (BTC) price holds firm at $118,000. Market analysts are predicting a full blows altcoin season in the second half of 2025.
