The Crypto sentiment returned to “Greed” on Saturday as the Crypto market advanced, following stunning comments from US Federal Reserve Chair Jerome Powell who raised his imagination of a possible rate cut in September.
The crypto fear & greed IndexMeasuring the general sentiment in the crypto market, rose to a “greed” score of 60 on Saturday, up to 10 points from the “neutral” Friday reading of 50, after a short sink in fear earlier on the week.
The rebound came after Powell’s speech at the annual Jackson Hole Economic Symposium on Friday, in which he said the current inflation conditions and the labor market “could be a warrant of organizing” Fed’s financial policy stance.
ETH is the “most-sensitive aspect of crypto”
After Powell’s speech, the Bitcoin (Btc) falls of 5% up to $ 117,300Liquidating $ 379.88 million in shorts. Meanwhile, Ether (Eth) reclaimed 2021 all-time highs of $ 4,878, reaching a height of $ 4,851, representing an 11.51% increase within 24 hours, According to In coinmarketcap.
In an X post the same day, co-founder of Axie Infinity Jeffrey “Jiho” Zirlin Called Ether is the “most-sensitive aspect of crypto.”
“As interest rates decrease, the prevalence between what can be obtained by depositing your stablecoins at the DEFI compared to depositing your USD to a wide bench,” he said.
According to the CME Fedwatch Tool75% of market participants expect a cutting rate at the Sept. 17 fed. Resource Resource The Kobeissi letter Says“Fed chair Powell appears to have set the stage for a reduction in September rate.”
History, history, Fed rate cuts increase liquidity And make riskier assets more attractive as crypto.
Participants in the Crypto market look forward to advancing
However, St. Louis is President Alberto Musalem said Reuters on Friday that he still needed more time to decide if he would support a interest rate cut.
“I updated my perspective and balance of risks all the way and up to two days, three days before the meeting,” he said.
Earlier in the week, There are many participants in the crypto market It is expected to be a spike in the crypto market if Powell is joking at a cutting rate.
Related: Bitcoin Breakout price at $ 117k liquidates bears, opening door to fresh all-time highs
Jason Williams has already set Says On Wednesday, if Powell “came to the soft and leaning rates at the rate, we were Turbo RIP.”
Crypto Banter Trader has run to Neuner Says “The Jackson Hole will shape the crypto direction,” before adding, “Trump is pushing for a cut rate for good reason, but will Powell listen?”
Magazine: All hated the GPT-5, AI shows social media not well: AI eye
