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Analyze the market trends
On August 22, at the Jackson Hole annual meeting, Federal Reserve Chairman Powell's dovish remarks significantly boosted the cryptocurrency market, with expectations for a rate cut in September soaring to 91.2%, leading to a noticeable rise in Bitcoin, Ethereum, and others.
Powell stated that the downside risks to the labor market are increasing, and a shift in the balance of risks may require an adjustment in monetary policy, providing a possibility for a rate cut in September.
BTC and ETH prices strengthen: BTC