Ethereum Price Hits New All-Time High Above 4880 Amid Crypto Market Rally
TLDR
- Ethereum price jumped 12% to $4,885 after Powell’s Jackson Hole comments.
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Daily ETH trading volume rose 147% to $81.18 billion post-speech.
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$388 million in ETH positions were liquidated after the surge.
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Spot Ether ETFs saw $2.79B in August inflows, outpacing Bitcoin ETFs.
Ethereum price surged to a record high of $4,885, following comments from Federal Reserve Chair Jerome Powell. The rally followed Powell’s Jackson Hole speech where he emphasized supporting the labor market, prompting markets to expect a September interest rate cut. According to the CME FedWatch Tool, rate cut expectations have risen to 90%.
This shift in monetary policy sentiment led to a strong rally across the crypto market. Bitcoin…
