BTC Surges After Powell Speech as ETH and BNB Hit All-Time Highs
Fed Chair Jerome Powell’s Jackson Hole speech sparked a swift $200 billion crypto market rally. Bitcoin climbed from below $112 000 to over $117 000, lifting its market cap past $2.3 trillion and trimming dominance to 56.5%. Ethereum jumped from under $4 200 to near $4 900, and Binance Coin reached $900. Other altcoins posted gains: Solana +10%, Cardano +7%, Dogecoin +9%, SIU +9%, Stellar +5.5%, Avalanche +9%, and XRP reclaimed the $3.00 level. The overall crypto market cap approached $4.1 trillion. Traders viewed Powell’s cautiously optimistic remarks on future rate cuts as a bullish catalyst, driving rapid inflows and renewed risk-on sentiment.
Bullish
Powell’s Jackson Hole remarks, interpreted as laying groundwork for future rate cuts, acted as a bullish trigger, spurring a swift $200 billion inflow into crypto. Similar Fed-driven surges occurred in the past when dovish signals alleviated rate-hike fears, boosting risk assets. Bitcoin’s rebound from sub-$112 000 to over $117 000 and record ETH and BNB highs reflect renewed investor confidence. Short-term, traders may ride the momentum but watch for profit-taking amid elevated volatility. Long-term, sustained gains hinge on concrete dovish actions from the Fed and clear rate-cut guidance. Overall, the market’s positive response underscores high sensitivity to monetary policy cues and signals a bullish outlook, provided the Fed follows through on easing.