1. Hints of Interest Rate Hikes from the US Federal Reserve Revitalize the Market
The statement by Federal Reserve Chairman Jerome Powell at the "Jackson Hole" summit sparked optimism, as he indicated the possibility of lowering interest rates soon. This support drove Bitcoin up from $112,000 to around $116,500, accompanied by strong gains in Ethereum and Solana.
2. Ethereum Achieves Highest Weekly Close in 4 Years
ETH recorded a record weekly close at $4,475, with strong support in the range of $4,000–$4,150 and clear resistances above this level.
3. BitMEX Analyst Predicts ETH Will Reach $20,000
BitMEX co-founder Arthur Hayes expressed great optimism about Ethereum's future, predicting its price will reach $20,000 in the near future.
4. Malaysia Considers $XRP
As an alternative to bank deposits
Bank Negara Malaysia suggested that the XRP token could serve as an alternative to traditional deposits in future payment systems, considering that Bitcoin and Ethereum are unsuitable for this use.
5. Week's Invitation: Events and Conferences Influencing the Market
A series of influential global events in the cryptocurrency world is expected to take place, the most prominent of which are:
Wyoming Blockchain Symposium
CoinFest Asia
Japan Blockchain Week
In addition to meetings in Bali, Tokyo (AI Edition), London, and SuperTokyo (Solana), this event represents an important opportunity to follow regulatory and technological developments.
6. Decline in Weekly Investment Flows After 15 Consecutive Weeks
The market witnessed its first withdrawal of weekly flows after fifteen weeks of inflow, with the market recording an outflow of $223 million according to CoinShares data.
7. Increased Institutional Interest in New Funds
Re7 Capital is seeking to raise $100 million for a new multi-strategy fund targeting major market investors. This comes amid a growing trend of institutions entering crypto funds.