ChainCatcher news, reported by CoinDesk, that before Federal Reserve Chairman Jerome Powell delivers his Jackson Hole speech, the market remains cautiously positioned, with Bitcoin holding a key support level of $112,500.

Speculative activity seems to have cooled down, and traders are awaiting Powell's comments, while options data indicates potential price volatility for Bitcoin and Ethereum.

If Powell suggests that the Federal Reserve will take a more dovish stance, implying quicker and larger rate cuts, the market may exhibit similar movements.

Currently, the market expects the Federal Reserve to cut rates by 25 basis points in September and to cut rates again before the end of the year.