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Bitcoin Holds $115,000 As Ethereum Etfs Reverse Outflows And Solana Surges
(MENAFN- The Rio Times) The U.S. Federal Reserve Chair Jerome Powell spoke at Jackson Hole on Friday, striking a softer tone on interest rates.
His words supported risk assets , lowered Treasury yields, and weakened the dollar. That shift gave cryptocurrencies a strong push overnight.
Bitcoin rose 2.3% to $115,750 after briefly dipping below $113,000 before Powell's remarks. Ethereum led the market, climbing 8.9% to $4,722 after briefly touching $4,882, a new record high.
Solana followed with an 11.7% gain to $205, while XRP added 6.4% to $3.06. Litecoin rose 4.8% to $122.
Smaller tokens also rallied, with Arbitrum up 16.6%, AAVE up 13.6%, and several microcaps showing extreme volatility.
ETF flows confirmed the divide between Bitcoin and Ethereum. Spot Ethereum funds logged $288 million in net inflows on Thursday, their first positive day in a week.
Bitcoin ETFs, by contrast, recorded another $23 million in outflows, their sixth straight day of redemptions.
This divergence suggests that institutional appetite is shifting toward Ethereum after its recent price strength.
Technical analysis highlights a market at a key crossroad. On the four-hour Bitcoin chart, momentum improved after the rebound, with the Relative Strength Index at 55 and the MACD turning positive.
Bitcoin Holds $115,000 as Ethereum ETFs Reverse Outflows and Solana Surges
A close above $117,000 would confirm a breakout, while a failure to hold $114,000 could trigger renewed selling.
On the daily chart, Bitcoin trades near major moving averages clustered at $115,000–$116,000. The RSI sits near neutral at 49, and the daily MACD remains slightly negative.
This points to a range-bound structure until buyers establish control above $117,000. Bollinger Bands show price mid-range, with volatility moderate after sharp swings earlier this month.
Ethereum's rally and ETF inflows suggest the asset is pulling broader market sentiment higher. Solana's surge above $200 shows how traders rotate into higher-beta assets during Ethereum-led rallies.
Volume confirms the move, with Solana recording $407 million in 24-hour trading, Ethereum $2.24 billion, and Bitcoin $1.16 billion.
Global liquidity conditions also shaped price action. The liquidity index on the chart shows a steady upward trend, reflecting easier financial conditions after Powell's speech.
This index often leads crypto demand, and the recent uptick supports further short-term gains.
Markets now look toward whether Bitcoin can break resistance at $117,000 and whether Ethereum ETFs sustain inflows.
If momentum holds, attention could quickly shift toward the $120,000–$121,000 area for Bitcoin and the $5,000 mark for Ethereum.
His words supported risk assets , lowered Treasury yields, and weakened the dollar. That shift gave cryptocurrencies a strong push overnight.
Bitcoin rose 2.3% to $115,750 after briefly dipping below $113,000 before Powell's remarks. Ethereum led the market, climbing 8.9% to $4,722 after briefly touching $4,882, a new record high.
Solana followed with an 11.7% gain to $205, while XRP added 6.4% to $3.06. Litecoin rose 4.8% to $122.
Smaller tokens also rallied, with Arbitrum up 16.6%, AAVE up 13.6%, and several microcaps showing extreme volatility.
ETF flows confirmed the divide between Bitcoin and Ethereum. Spot Ethereum funds logged $288 million in net inflows on Thursday, their first positive day in a week.
Bitcoin ETFs, by contrast, recorded another $23 million in outflows, their sixth straight day of redemptions.
This divergence suggests that institutional appetite is shifting toward Ethereum after its recent price strength.
Technical analysis highlights a market at a key crossroad. On the four-hour Bitcoin chart, momentum improved after the rebound, with the Relative Strength Index at 55 and the MACD turning positive.
Bitcoin Holds $115,000 as Ethereum ETFs Reverse Outflows and Solana Surges
A close above $117,000 would confirm a breakout, while a failure to hold $114,000 could trigger renewed selling.
On the daily chart, Bitcoin trades near major moving averages clustered at $115,000–$116,000. The RSI sits near neutral at 49, and the daily MACD remains slightly negative.
This points to a range-bound structure until buyers establish control above $117,000. Bollinger Bands show price mid-range, with volatility moderate after sharp swings earlier this month.
Ethereum's rally and ETF inflows suggest the asset is pulling broader market sentiment higher. Solana's surge above $200 shows how traders rotate into higher-beta assets during Ethereum-led rallies.
Volume confirms the move, with Solana recording $407 million in 24-hour trading, Ethereum $2.24 billion, and Bitcoin $1.16 billion.
Global liquidity conditions also shaped price action. The liquidity index on the chart shows a steady upward trend, reflecting easier financial conditions after Powell's speech.
This index often leads crypto demand, and the recent uptick supports further short-term gains.
Markets now look toward whether Bitcoin can break resistance at $117,000 and whether Ethereum ETFs sustain inflows.
If momentum holds, attention could quickly shift toward the $120,000–$121,000 area for Bitcoin and the $5,000 mark for Ethereum.
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