Powell Signals Potential Rate Cuts, ETH Hits All-Time High! What’s Next for the Market?
Powell’s Dovish Tone Sparks Market Rally
On the evening of August 22, Federal Reserve Chair Powell’s ‘farewell speech’ at the Jackson Hole symposium dropped a bombshell—hinting at possible rate cuts! This comes nearly 8 months after the last rate cut in December 2024. Markets roared in response: U.S. stocks surged (Dow +1.89%, S&P 500 +1.52%, Nasdaq +1.88%), while crypto-related stocks like SharpLink jumped 15.69% and Coinbase rose 6.52%.
ETH Breaks 4-Year High, Driving Altcoin Surge
The crypto market was even more ecstatic! Total market cap rebounded to $4.1 trillion, with Ethereum (ETH) leading the charge: it soared 14.33% to $4887.5, hitting a new all-time high after nearly 3 years and 9 months! Altcoins in ETH’s ecosystem also rallied: SSV (+25.54%), ETHFI (+20.67%), and ARB (+9.53%). Coinglass data shows ETH saw $368 million in liquidations in 24 hours, with shorts getting crushed.
Experts Bullish: ETH Could Hit $20,000?
- Tom Lee: Powell’s dovish stance aligns with expectations, directly benefiting BTC and ETH.
- Yi Lihua: Rate cuts confirmed; ETH ends its bear market, ushering in a new uptrend!
- Arthur Hayes: Once ETH breaks ATH, the floodgates open—target $10k-$20k!
Whales Pile Into ETH, Showing Strong Confidence
- A Bitcoin OG sold 300 BTC to buy ETH, now holding 118k ETH + 135k ETH long positions, with over $160 million in unrealized gains.
- The ‘$125k rolling whale’: Bet on rate cuts, increasing positions from 4k ETH to 25.1k ETH in 5 days, with $5.5 million in profits.
- Justin Sun (Machibigbrother): Liquidated all BTC positions but kept a 25x leveraged ETH long, with $3 million in unrealized gains and total profits of $37 million.
Warning: Market Overheating Risks—FOMO Trader Loses $1.5M
Amid the frenzy, there’s cautionary tale: A trader sold 2277 ETH at $4203 (9.57 million) 5 days ago, then FOMO-bought 1966 ETH at $4869 (also 9.57 million) 6 hours ago, now losing 311 ETH (≈$1.5 million).
Fed officials also sounded warnings: Hamark said ‘we should stick to moderately tight policy’, while Musalem noted ‘rate cuts depend on the overall path, inflation risks remain’. Whether ETH’s rally continues hinges on actual rate cut implementation!
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This content is AI-generated and does not constitute investment advice. Please exercise your own rational judgment.
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