Cryptocurrencies rallied on Friday after Federal Reserve Chair Jerome Powell hinted at possible September interest rate cuts, fueling optimism across digital assets.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $117,071.34 |
| Ethereum | (CRYPTO: ETH) | $4,772.59 |
| Solana | (CRYPTO: SOL) | $196.27 |
| XRP | (CRYPTO: XRP) | $3.05 |
| Dogecoin | (CRYPTO: DOGE) | $0.2372 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001327 |
Notable Statistics:
- Coinglass data shows 151,561 traders were liquidated in the past 24 hours for $635.67 million.
- SoSoValue data shows net outflows of $194.3 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $287.6 million.
- In the past 24 hours, the top gainers include Morpho (CRYPTO: MORPHO), Aerodrome Finance (CRYPTO: AERO) and Ethereum Classic (CRYPTO: ETC).
Notable Developments:
- Ethereum Traders Eye ‘Swing Longs’ As ETH Outperforms BTC
- Why Are Dormant Bitcoin Whales Rotating Into Ethereum Ahead Of Powell’s Jackson Hole Speech?
- Nayib Bukele-Led El Salvador Is Now Seeing Hundreds Of Students Graduate With Bitcoin Diplomas
- Jack Dorsey Teases Bitchat’s New ‘Teleport’ Tool: Users Worry About Privacy, Surveillance And Bots
- Arthur Hayes Says ‘I Want No Cut’ At Jackson Hole—Will Powell Bend To Trump Or Channel Volcker 2.0?
Trader Notes: Michael van de Poppe said Bitcoin executed a textbook sweep of recent lows, giving an ideal accumulation entry. The quick reclaim sparked a sharp rally, confirming that the "uptrend is back."
CW highlighted that Bitcoin has broken out of its pattern.
CryptoCon noted the cycle may look simple in hindsight, but the true difficulty lies in the long wait, uncertainty around altcoins, and the persistent greed-driven hope that Bitcoin might avoid a bear market. He added that one final metric, SMIEO, still needs to confirm the last phase.
George warned that while Bitcoin pumped, liquidity remains below as lows weren't fully cleared and so the move could be “dangerous”. He currently favors Ethereum over BTC while waiting to see the next move.
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Image: Shutterstock
