Cryptocurrency prices on August 20: Bitcoin, Ether surge up to 4% on bets for dovish Fed
With the data calendar relatively light across major economies this week, market attention is focused on the release of the Fed's July meeting minutes on Wednesday and Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday, both expected to provide insights into the U.S. rate outlook.
At 2:20 pm IST, Bitcoin was trading nearly 4% higher at $60,842, while Ethereum had risen 1.7% to $2,664. The broader crypto market also experienced gains, with BNB up 6%, Solana rising 2.7%, XRP increasing by 6%, Dogecoin by 4.7%, Tron by 7%, and Avalanche by 5.5%.
«This week, the Jackson Hole Symposium, particularly Powell's speech on August 23, could introduce volatility to the market,» said CoinDCX Research Team. They identified key support levels for Bitcoin around $58,500 and $56,000, with resistance expected at $63,500, $65,500, and $67,000.
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View Details»Recent signals from Fed policymakers have hinted at possible rate easing in September, leading markets to anticipate a dovish tone from Powell and other speakers at the annual gathering of global
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