Hi HODLers,
The news of the day is that J.Powell gave some comments on his view of the economy, inflation and future rates.
The main takeaway and to my surprise was that he spent some time talking about a cooling job market, less hirings and pressures on businesses.
Even if he did not clearly state any future action and kept saying they will remain data dependent. This was the most dovish comments we've seen from him.
$ETH surged 13% on Friday after Federal Reserve Chair Jerome Powell’s dovish Jackson Hole speech hinted at an interest rate cut in September.
More than $340 million in Ethereum long and short positions were liquidated in the last 24 hours, making up over half of all crypto market liquidations.
Onchain and technical indicators signal Ether’s potential to hit $6,000 in the short term
Stay safe out there,
