Powell's dovish hints that the U.S. is about to cut interest rates, BTC stands above 64K, and ETH exceeds 2,700

Yesterday, Federal Reserve Chairman Powell mentioned in his speech at the annual meeting of global central banks that "the time has come for policy adjustments", implying that the United States is about to cut interest rates. U.S. stocks rose across the board on Friday, with Bitcoin standing at 64K, Ethereum standing at 2,700, and the top ten The market capitalization of cryptocurrencies is all rising.

( Jackson Hole Speech｜Federal Reserve Chairman Powell hinted at interest rate cuts: The time has come for policy adjustments )

BTC stands at 64K

Bitcoin broke through the upper edge of the triangle convergence range last night, getting rid of the recent gloom, rising from 60K to 64,955, and was trading at $64,302 at the time of writing.

The Bitcoin spot ETF has shown net inflows for six consecutive days. According to Farside ’s current information, there should be a chance for the seventh day of net inflows on 8/23.

ETH stands at 2,700

The performance of Ethereum spot ETF is not ideal, with net outflows for six consecutive days. According to Farside ’s current information, it should not be able to reverse the disadvantage on 8/23. The main reason is that grayscale ETHE continues to outflow funds.

However, looking at the hourly chart, ETH has also successfully bottomed out this week, successfully breaking through the integer level of $2,700 yesterday, and was trading at $2,765 at the time of writing.

Top 10 largest cryptocurrencies by market capitalization all rise

The ten largest cryptocurrencies by market capitalization all saw significant gains on Friday, and all recorded positive growth on the 7th. Judging from the weekly increase, AVAX has risen by 30%, which is astonishing. Grayscale recently launched a new fund targeting AVAX, the native token of L1 network Avalanche.

( Grayscale launches Avalanche Token Private Investment Fund: Help promote adoption in the tokenization field )

Binance has recently launched two Launchpool projects: TON and DOGS. In addition, Binance founder CZ(CZ) has been transferred to Long Beach and is expected to complete his four-month sentence at the end of September and be officially released. BNB also had a decent performance of 14.3% during the week.

( Binance Launchpool launches DOGS and collides with TON. Can I participate in both? )

( CZ is about to regain his freedom, and the community cheers: the bull market is coming )