According to Followin, On August 18, markets turned their attention to Fed Chair Jerome Powell’s upcoming speech at the Jackson Hole Symposium. While Wall Street is pricing in an ~85% chance of a September rate cut, conflicting signals from tariff-driven price pressures and weakening labor data may keep Powell from committing to further easing. Any hawkish tone would effectively act as “tightening by reality,” sparking risk-asset pullbacks.
In crypto, Bitcoin (BTC) surged to $124K earlier this month but has since retreated to test the $115K support zone.
Bitunix Analyst’s View:
If Powell maintains a “wait-and-see” stance, BTC is unlikely to break higher quickly and may consolidate between $115K and $120K. The $115K level is a key high-volume support; a breakdown could see a retest of $112K, while holding above keeps the door open for a push toward the $118K–$120K resistance band. A defensive strategy is advised—reduce leverage, wait for Powell’s remarks and upcoming U.S. jobs data before committing further.
