Ahead of Federal Reserve Chair Jerome Powell's pivotal Jackson Hole address on Friday, cryptocurrency bettors are pricing in more than an 80% chance that the central bank cuts interest rates this year.

Crypto traders had been preparing in recent days for a more-hawkish tone from Fed Chair Jerome Powell's highly anticipated speech in Jackson Hole.

BTC spiked to $116K after Powell’s Jackson Hole caution. FedWatch sees 87% odds of a September cut, with $112K key support.

Bitcoin jumped above $117k and Ethereum hit $4,700 amid an 11% surge as crypto reacted to Powell's speech on Friday

Federal Reserve Chair Jerome Powell on Friday used his Jackson Hole speech to acknowledge rising risks to U.S. employment, signaling the central bank may be preparing to shift its policy stance.

The crypto market has staged a remarkable rebound, with the total market cap climbing more than 5% to reclaim the $4.01 trillion level.

Arthur Hayes discusses his Ethereum price prediction, suggesting a retest of $4,000 if Powell delivers hawkish remarks at Jackson Hole.

Eric Trump, the Securities and Exchange Commission’s new, crypto-friendly chair Paul Atkins and two Fed governors on Donald Trump’s shortlist to replace Powell are all set to attend the Wyoming Blockchain Symposium at the Four Seasons hotel in Jackson Hole.