Bitcoin Volatility Spiked After Powell’s Jackson Hole Speech

Jerome Powell’s speech at the Jackson Hole Symposium triggered significant shifts in the cryptocurrency market, leading to both surges and subsequent drops for Bitcoin and Ethereum. While the speech hinted at potential interest rate cuts, this sparked speculation and volatility, impacting investor strategies. Bitcoin saw a notable 5% rally followed by a sharp decline below $110,000, while Ethereum exhibited similar price swings. This highlights how macroeconomic cues influence the crypto market, particularly with Bitcoin’s strong correlation to global economic trends.