To put it plainly, today’s market is even more boring than I expected. BTC is stuck around $63,000, consolidating with no clear direction all week. A real rebound signal would only count if it can break and hold above $64,000; otherwise, the $62,300–$64,000 range is likely going to be “churned” for a while.
The Jackson Hole central bank symposium is scheduled for 8/27 to 8/29.
Right now, the Fed chair is Kevin Warsh, who took office in early May this year. The market has been pricing in a September rate cut early—CME data suggests roughly an 80% chance of a 1-step cut—but the US dollar has already weakened. The DXY is down near 99.6, approaching its two-month low, which is completely the opposite of the idea that “the dollar is propping up liquidity.”
ETH is hovering around $1,875 and hasn’t reclaimed $1,900 yet. SOL, however, looks more promising—it has broken out of a wedge pattern. Around $75, but note that on 8/12 there was just a near-30% delinquency event in staking nodes, almost pushing it to the finality halt threshold. That kind of risk shouldn’t be ignored. BNB is currently around $605. On 8/25, the BNB Chain will upgrade; major exchanges will pause deposits and withdrawals at that time. If you hold BNB, make sure to check the schedule in advance.
Positioning view: If BTC breaks below $62,300, consider adding in batches. If it rebounds to around $64,800, you can trim a bit first. For ETH, hold above $1,840 and only look lower from there; then if it rebounds to around $1,980, we can discuss additional add-on space.
Do you think Warsh this time at Jackson Hole will be more dovish or more hawkish? Drop your thoughts in the comments 👇
$btc $eth
The Jackson Hole central bank symposium is scheduled for 8/27 to 8/29.
Right now, the Fed chair is Kevin Warsh, who took office in early May this year. The market has been pricing in a September rate cut early—CME data suggests roughly an 80% chance of a 1-step cut—but the US dollar has already weakened. The DXY is down near 99.6, approaching its two-month low, which is completely the opposite of the idea that “the dollar is propping up liquidity.”
ETH is hovering around $1,875 and hasn’t reclaimed $1,900 yet. SOL, however, looks more promising—it has broken out of a wedge pattern. Around $75, but note that on 8/12 there was just a near-30% delinquency event in staking nodes, almost pushing it to the finality halt threshold. That kind of risk shouldn’t be ignored. BNB is currently around $605. On 8/25, the BNB Chain will upgrade; major exchanges will pause deposits and withdrawals at that time. If you hold BNB, make sure to check the schedule in advance.
Positioning view: If BTC breaks below $62,300, consider adding in batches. If it rebounds to around $64,800, you can trim a bit first. For ETH, hold above $1,840 and only look lower from there; then if it rebounds to around $1,980, we can discuss additional add-on space.
Do you think Warsh this time at Jackson Hole will be more dovish or more hawkish? Drop your thoughts in the comments 👇
$btc $eth