Ethereum News Today: Powell's Dovish Tone Ignites Ethereum's 7% Surge in 30 Minutes
Ethereum surged past $4,800 following remarks by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium, reigniting bullish sentiment across the cryptocurrency market. Powell's comments, which signaled a potential September rate cut, triggered a sharp rise in Ethereum's price, with the token climbing nearly 7% within 30 minutes of his speech [2]. The move outpaced Bitcoin's more modest gains, as EthereumETH-- reclaimed a critical price level and led a broader altcoin rally [1].
The Fed Chair's dovish tone, emphasizing a "shifting balance of risks" that may warrant policy easing, pushed the implied probability of a September rate cut to 85% based on CME FedWatch data [4]. This shift in expectations fueled liquidity-driven buying in risk assets, with Ethereum's price jumping from $4,300 to $4,800 within hours [2]. The token's surge brought it within $110 of its 2021 all-time high of $4,891.70, while trading volume surged 127% to $80.59 billion, reflecting strong investor activity [4].
Market dynamics were further shaped by institutional inflows and corporate accumulation. Ethereum ETFs attracted $547 million in inflows, with entities like BitMine ImmersionBMNR-- Technologies acquiring $10.6 billion worth of ETH to bolster corporate treasuries [6]. These developments contrasted with earlier ETF outflows totaling $925.7 million in late August, which had temporarily pushed Ethereum below $4,200 . However, renewed buying pressure post-Powell's speech offset prior selling, with Ethereum ETFs recording $288 million in net inflows on August 21 .
Technical indicators supported the bullish momentum. Ethereum's price stabilized above key support levels, with the RSI and MACD showing positive divergence. Analysts noted that a sustained break above $4,400 could open the path to $5,000 and beyond, with some forecasting a potential $8,000 target by late 2025 . Institutional confidence was further reinforced by Ethereum's validator exit queue reaching a record 927,000 ETH, indicating reduced selling pressure during the correction .
The broader market context highlighted Powell's influence. Prediction platforms like Myriad Linea saw the expected probability of a September rate cut jump to 87%, up from 70% at the start of the week [2]. Meanwhile, geopolitical tensions and U.S.-China trade dynamics added volatility, with crypto markets retreating ahead of the speech due to ETF outflows and Trump's tariff threats [3]. However, Powell's speech alleviated some concerns, with the U.S. dollar index (DXY) cooling to 105.1 and Treasury yields dipping .
Despite the rally, caution persisted. Some analysts, including self-proclaimed crypto expert Doctor Profit, maintained bearish forecasts, predicting BitcoinBTC-- could dip below $100,000 in September before recovering [1]. Additionally, Ethereum's RSI showed bearish divergence on daily charts, a potential warning of weakening momentum . Institutional sales, such as BlackRock's $272 million ETH offload, also underscored near-term volatility .
Ethereum's tokenomics, including EIP-1559's burn mechanism and staking dynamics, were cited as structural supports for its price action. With a circulating supply of 120.7 million ETH and no hard cap, Ethereum's value proposition relies on demand-driven factors like institutional adoption and macroeconomic conditions [4].
The market's response to Powell's speech underscored crypto's sensitivity to monetary policy. A dovish Fed stance is typically bullish for risk assets, and the anticipated rate cuts have historically driven liquidity into non-yielding assets like Bitcoin and Ethereum . While the immediate outlook remains optimistic, traders are advised to monitor key resistance levels at $4,310–$4,360 and support zones near $4,120 [7].
Comentarios
Aún no hay comentarios