{"id":8579,"date":"2025-08-22T16:03:18","date_gmt":"2025-08-22T16:03:18","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-pops-and-ethereum-jumps-7-as-powell-speech-buoys-crypto-markets\/"},"modified":"2025-08-22T16:03:27","modified_gmt":"2025-08-22T16:03:27","slug":"bitcoin-price-pops-and-ethereum-jumps-7-as-powell-speech-buoys-crypto-markets","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-pops-and-ethereum-jumps-7-as-powell-speech-buoys-crypto-markets\/","title":{"rendered":"Bitcoin price pops and Ethereum jumps 7% as Powell speech buoys crypto markets"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Cryptocurrencies reacted sharply to Federal Reserve chair Jerome Powell\u2019s speech at Jackson Hole, with Bitcoin jumping above $115,000 and Ethereum surging more than 8% to above $4,600.<\/p>\n<div id=\"cn-block-summary-block_7e8b2280863671de583a79be00663518\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin rose from $113k to near $116k as cryptocurrencies reacted to Fed chair Jerome Powell\u2019s speech.<\/li>\n<li>Ethereum price also jumped, rising more than 8% to above $4,600.<\/li>\n<li>Powell has hinted at the Fed cutting rates in September.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>After a week of downside action, Bitcoin (BTC) and Ethereum (ETH) led the cryptocurrency market in a sharp rally on Friday, with the broader market rallying as Fed chair Jerome Powell hinted at potential interest rate cuts in September.<\/p>\n<p>With the Dow Jones Industrial Average jumping more than 850 points, Bitcoin spiked nearly 3% to trade near $116,000, while Ethereum rose more than 8% to break above $4,600.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">What did Powell say?<\/h2>\n<p>As investors cheered Powell\u2019s speech at Jackson Hole, the global crypto market gained 2.5% to over $3.95 trillion. The gains also triggered a surge in liquidations, which climbed 85% to over $585 million as the sudden price spike caught shorts off guard.<\/p>\n<p>Powell\u2019s speech at the central bank\u2019s annual symposium in Wyoming was a highly anticipated event. While the Fed chair did not explicitly state that a rate cut is coming in September, his remarks provided a strong hint.<\/p>\n<p>In particular, Powell <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/08\/22\/powell-indicates-conditions-may-warrant-interest-rate-cuts-as-fed-proceeds-carefully.html\" target=\"_blank\">said<\/a> current conditions \u2018may warrant\u2019 the central bank\u2019s move to cut interest rates.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,\u201d Powell added.<\/p>\n<\/blockquote>\n<p>The remarks now see investors increase bets on a rate cut in September, with the CME <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" target=\"_blank\">FedWatch tool<\/a> now reading 90%.\u00a0<\/p>\n<p>Powell also signaled that the Fed wants to move away from its framework requiring it to target inflation strictly at 2%. With these details in place, crypto and other risk assets are likely to continue higher.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies reacted sharply to Federal Reserve chair Jerome Powell\u2019s speech at Jackson Hole, with Bitcoin jumping above $115,000 and Ethereum surging more than 8% to above $4,600. Summary Bitcoin rose&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=8579"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8579\/revisions"}],"predecessor-version":[{"id":8580,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8579\/revisions\/8580"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/7492"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=8579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=8579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=8579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}