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Powell at Jackson Hole Eases Tensions and Boosts Digital Markets
The cryptocurrency market recorded a clear recovery immediately after Jerome Powell's speech at Jackson Hole: the tone shifted from cautious to encouraging, and he indirectly hinted at the possibility of an interest rate cut in September, which gave digital assets a positive boost due to their high sensitivity to any hints of monetary easing.
We noted that Powell provided more dovish guidance than expected, which eased financial markets and sparked investors' appetite for risk.
This also triggered a clear wave of support for both Bitcoin and Ethereum, along with a noticeable rise in alternative coins, amid expectations of a significant change in monetary policy soon.
