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Federal Reserve Chair Jerome Powell’s Jackson Hole speech sparked immediate gains in Bitcoin and Ethereum as he signaled potential interest rate cuts. The crypto market reacted within minutes to Powell’s cautious but dovish tone regarding future monetary policy. This comes amid ongoing pressure from the White House and concerns about economic slowing.
- Bitprice jumped 2.5% and Ethereum surged nearly 7% within 15 minutes of Powell's speech beginning
- Powell indicated the Fed may adjust policy stance at September meeting if economic conditions warrant changes
- Markets had positioned for potential September rate cuts despite ongoing inflation concerns from tariff impacts
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