Bitcoin’s recent pullback has pushed the entire crypto market into a state of caution and uncertainty. Now all eyes are on Friday, August 22, when Federal Reserve Chair Jerome Powell will deliver his much-anticipated speech at the Jackson Hole Summit — an event that has historically served as a signal for major policy moves.
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🧠 What’s Happening Right Now?
According to Ryan Rabaglia (general partner at Rise Capital):
Bitcoin and several major cryptocurrencies rallied to historic levels in recent weeks
That rally triggered large-scale profit-taking
At the moment, the market lacks clear direction and is waiting for a major catalyst
This week’s Jackson Hole Summit has become the most closely watched event in the crypto space
🧠 Why?
Because Powell often uses this platform to hint at upcoming interest rate decisions — and those decisions have a direct influence on Bitcoin’s price action.
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📊 What Is the Market Expecting?
Traders currently expect a 25 basis point rate cut in the September Fed meeting
But if Powell’s speech signals “no rate cut” ❌ → Bitcoin and other crypto assets could face additional downward pressure
Analyst Bruni also noted that the 200-day Moving Average (around $100,000) is now the next major support level for BTC.
A strong breakdown below that zone could signal a longer-term bearish phase.
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🔍 What Should Traders Do Now?
✅ Avoid opening large positions before the speech
✅ Keep a very close eye on the 200-day Moving Average
✅ Analyze Powell’s exact phrasing — keywords like “rate hike,” “no change,” or “rate cut soon” will move the markets
✅ If the tone of the speech is dovish → BTC could stage a strong rebound
✅ If the tone is hawkish → price may drop further
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💡 Final Thought:
Right now, the crypto market is in “wait-and-see mode.”
Avoid emotional decisions. One sentence from Powell could completely change the market direction — so stay calm, stay prepared, and let the data guide you.
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