#FOMCMinutes
🚨Powell's Speech🚨
• Bitcoin rose to $116,960 (pulling back from the weekly high of $124,000) after Powell's speech at Jackson Hole
• ETH regained ground to ~$6,000 while BNB increased by 8.4% to $892.92
• Trading volumes surged as markets calculated a 93% probability of a rate cut in September (up from 71% previously).
• Powell acknowledged a shift in the Fed's risk balance towards economic concerns, softening his hawkish stance
• Political pressure intensified with Trump criticizing the timing of Powell's rate cut
• Technical indicators supported the rally: profit-taking decreased before the speech, creating space for an upward reaction
• On-chain data showed significant inflows into BTC and ETH derivatives
