Bitcoin And Ethereum Performance

Fed Rate Cuts Signal

Bitcoin And Ethereum Performance

Bank of America Securities recently noted that the S&P 500 has a limited historical reaction to the Jackson Hole meeting. Thus, even if Jerome Powell takes a dovish stance, it may not have much impact on the market.

Analyst Benjamin Cowen revealed ETH/BTC price action in 2016, 2020, and 2024. In 2016 and 2019, ETH rallied in September and topped out on September 20 and September 19, respectively. He thinks prices will drop after the Fed will cut rates to start rally later.

Bitcoin witnessed volatility as traders adjusted positions. BTC price is up 2% in an hour and nearly 3% in the past 24 hours, with the price currently trading at $61,700. The trading volume has also increased in the last hour, indicating a rise in interest among traders.

ETH price also climbed over 2% in the past 24 hours, with the price currently trading at $2,666. The 24-hour low and high are 2,592 and 2,700, respectively. Moreover, the trading volume witnessed a slight increase.

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