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I woke up this Saturday morning to something beautiful. Ethereum hit a new all-time high at $4,888.
The cryptocurrency markets experienced a surge after Jerome Powell’s speech at Jackson Hole. He hinted at policy adjustments coming in September. Translation? Rate cuts are likely on the horizon.
I’ve been watching key support levels all week. I kept telling myself not to go bearish at these crucial zones. Yesterday proved exactly why patience pays off in the cryptocurrency market.
Why This Fed News Changes Everything
Powell said the “shifting balance of risks may warrant policy adjustment.” That’s Fed-speak for “we’re cutting rates soon.”
Here’s what this means for crypto investors like us:
Cheaper money flows into risk assets like Bitcoin and Ethereum
