Impact on Crypto Markets 🚀📉
📌 Powell's dovish messages strengthened the possibility of an interest rate cut in September. The CME FedWatch tool prices this possibility at 87%. Banking circles are discussing the possibility of two cuts by the end of the year.
📊 Market Reactions:
US indices continued to rise, with risk appetite remaining strong.
The dollar index weakened, and bond yields declined.
Volatility increased in crypto assets.
🔹 Bitcoin ($BTC): Pulled back to $111K from the $113K level, currently trading around $111,500.
🔹 Ethereum ($ETH): Surged to an all-time high of $4,954 after Powell's remarks; currently stabilizing around the $4,600 range.
📈 ETH's momentum is supported by spot ETF inflows and institutional demand, while whale sales on the BTC side are creating short-term pressure.
