Investors eagerly awaited the Jackson Hole meeting, which finally featured a speech from Federal Reserve Chair Powell📢. Although he did not directly confirm a rate cut in September, the dovish tone of the speech instantly ignited market sentiment💥, leading investors to flock into the cryptocurrency market, with billions of dollars pouring into major coins, creating a market frenzy.#鲍威尔讲话
BTC surges: Rises $5000 in minutes📈
This week, Bitcoin experienced a 'roller coaster' market🎢. It opened early in the week around $118,000 but soon dropped to $115,000, with bulls attempting to rebound but repeatedly facing resistance. On Wednesday and Thursday, it further declined to below $113,000, causing market sentiment to tense at one point.
On Friday, before Powell's speech, BTC dipped again, falling below $111,700, marking a new low since early July. However, following the speech, BTC soared above $117,000 in minutes🚀. Although the rally later retreated to around $116,000, the day's increase still exceeded 2%, with a market cap exceeding $2.3 trillion💰.
Notably, BTC's market dominance has slightly declined to 56.5%, indicating that altcoins are capturing some market attention.#BTC
ETH and BNB skyrocket: New historical highs soar together🔥
One of the biggest beneficiaries of this speech is undoubtedly Ethereum (ETH). Earlier on that day, ETH briefly fell below $4,200, but quickly rebounded, setting a new all-time high of $4,900🏆 (although CoinGecko has not fully confirmed this, most exchanges show consistent trends).#BNB创新高
Binance Coin (BNB) also performed strongly, breaking through the $900 mark and setting a new high💪. Other altcoins also saw upward trends:
SOL rises by 10%
ADA rises by 7%
DOGE rises by 9%
SIU rises by 9%
XLM rises by 5.5%
AVAX shipment volume rises by 9%
XRP successfully recovers the key resistance level of $3.00
In just a few hours, the entire market has regained vitality💥. The total market capitalization of cryptocurrencies has increased by over $200 billion since yesterday's low, approaching the $4.1 trillion mark🌐.#ETH创历史新高
Market reaction and investor sentiment
The policy signals released by Powell's speech sparked market expectations for future rate cuts📉. Investor confidence has clearly rebounded, with the balance of power quickly reversing, especially in the context of low liquidity over the weekend, making this short-term surge particularly evident⚡.
Although BTC's rise is relatively stable, the explosive increase of altcoins like ETH and BNB indicates that capital is seeking more risk asset opportunities💹. This sentiment not only reflects the market's short-term chasing psychology but also shows investors' recognition of the long-term value of the crypto ecosystem.
Technical analysis and market outlook
BTC: Short-term support at $113,000, if stabilized, may continue to test the $118,000-$120,000 range.
ETH: New historical high established; short-term focus on consolidation around $4,950.
BNB: After breaking $900, short-term resistance may be at $950-$1,000.
XRP: Successfully recovers $3; if trading volume increases, it may challenge the $3.2 resistance.
Overall, the crypto market is currently driven by a dual push of favorable policies and capital inflow, with bullish sentiment prevailing🌟. However, investors still need to be cautious of volatility risks⚠️, especially in the context of relatively low trading volume over the weekend.
Summary
Although Powell's speech did not explicitly announce a rate cut, his dovish remarks undoubtedly injected a strong boost into the market💉. BTC surged in minutes, ETH and BNB reached historical highs, and altcoins overall rebounded strongly📈.
This market movement serves as a reminder to investors: the crypto market often reacts faster and more violently than traditional financial markets⚡. In the short term, BTC stabilizes in the support zone, ETH and BNB continue to reach new highs, and altcoin capital inflow is evident, making the whole market full of opportunities and vitality🌐.
💡 Tip: Low liquidity on weekends may increase trading volatility; it's important to enter the market cautiously, pay attention to key support and resistance levels, and manage positions wisely to profit steadily in this market movement📊. Investors eagerly awaited the Jackson Hole meeting, which finally featured a speech from Federal Reserve Chair Powell📢. Although he did not directly confirm a rate cut in September, the dovish tone of the speech instantly ignited market sentiment💥, leading investors to flock into the cryptocurrency market, with billions of dollars pouring into major coins, creating a market frenzy.
