💥Powell Doves, ETH Hits New Highs! Can It Go Higher???
Last night's Jackson Hole meeting, Powell sparked the market with one statement: the likelihood of a rate cut in September has significantly increased, with the probability soaring to 91%. Global markets immediately reacted, with US stocks surging and the crypto market taking off.
ETH is the Biggest Winner
Ethereum skyrocketed over 14% in a single day, reaching a peak of 4887, setting a new high for the first time in 4 years.
Its market cap has surpassed Mastercard, ranking it 26th globally.
This has driven a bunch of related sectors to rise: SSV up 25%, ARB nearly 10%.
Shorts were ruthlessly liquidated, with ETH's liquidation amount even surpassing BTC.
Why Did It Rise?
The core message of Powell's speech is: inflation is cooling, and employment is slowing, which means the Federal Reserve has more room to cut rates early. The market immediately interpreted this as “positive for risk assets,” leading to a surge of capital.
Big Moves On-Chain:
An early BTC whale swapped their holdings for ETH, with over 110,000 coins, realizing a floating profit of over 160 million dollars.
Some large holders heavily invested long before the surge, currently enjoying floating profits of several million dollars.
The “Big Brother” also cleared out other positions, leaving only long ETH positions, making a profit of 3 million dollars.
Don't Ignore The Risks
The short-term rise has been too sharp, making the market a bit overheated, and those chasing highs are starting to get trapped.
There are still hawkish voices within the Federal Reserve, and rate cuts will depend on future employment and inflation data.
Operational Advice:
Continue to observe, wait for data confirmation and market sentiment to cool before deciding whether to enter the market.
