Bitcoin (BTC): Currently at around $116,723, up nearly +3.75% from the previous close. The highest price today was $117,327, and the lowest price was $111,761.
Ethereum (ETH): Valued at $4,791.47, up nearly +13.0% from the previous session. The highest price today reached $4,879, and the lowest price was $4,210.
BNB: Currently trading at $887.32, up +5.7%, with the highest price at $899.92 and the lowest price at $839.27.
Key impactful news and analyses
Impact of Powell's speech at the Jackson Hole conference:
After hints from Federal Reserve Chairman Powell about a possible rate cut next month, cryptocurrencies, particularly Bitcoin and Ethereum, witnessed a notable recovery:
Bitcoin jumped to around $117,220 (+4.2%),
Ethereum also saw a larger increase (+14%), surpassing $4,700, alongside strong gains for altcoins like XRP, Solana, and Dogecoin.
Other analyses suggest a rebound to around $116,500 for Bitcoin and a general positive return for markets after the speech.
Bitcoin's August decline:
Despite current increases, data indicates a decline of about 8% during August, with a drop from a monthly peak of $124,000 to around $112,932, while the market looks to Powell's speech as a catalyst.
Future opinions from Bernstein:
Bernstein analysts expect the bull market to continue, reaching $200,000 in the next 6–12 months. In contrast, others believe the peak could be between $140,000 and $150,000 by the end of 2025.
Increased interest from Asian investors:
Wealth funds and investors in Asia are pushing to enhance their holdings in cryptocurrencies, especially with advanced regulatory frameworks and growing institutional adoption. Some families plan to invest up to 5% of their portfolios in cryptocurrencies.
Overall market evaluation today
Strong bullish sentiment: A clear positive turn occurred today as a basis for optimism, supported by political hints from the U.S. central bank.
Clear impact from global economic shifts: It seems that cryptocurrencies have started to react directly to monetary policy and macroeconomic environment.
Volatility is still present: Despite the increases, the market is still in a correction phase, and relative caution is advised, especially at this sensitive stage before Powell's speech and future Federal Reserve decisions.
Summary:
Bitcoin: Strong rebound - current resistance levels between $116,000–$117,000.
Ethereum: Remarkable performance +13% today – an indication of traders' preference for large, highly liquid assets.
Main driver: Powell's speech at Jackson Hole.
Medium to long-term views: Cautious optimism – expectations between $150,000 and $200,000 for Bitcoin.
Gambling or hedging strategy: It is preferred to wait until after Powell's speech, or to take gradual positions in anticipation of new data.