Key support zones: BTC $115,000-$116,500, ETH $5,800-$6,000

#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
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#PowellWatch
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