Bitcoin and ether saw price increases reaching roughly three-week highs in U.S. trading on Friday, with Bitcoin rising to about $116,600 and ether (ETH) up to $4,650. This surge follows a significant shift in market sentiment after Federal Reserve Chairman Jerome Powell's recent speech, where he indicated a potential shift from hawkish to dovish monetary policy, stirring optimism about a possible rate cut. Leading up to this, capital had been flowing into altcoins like Solana and Dogecoin, but the major cryptos are once again gaining attention. Notably, in the wake of Powell's speech in August, Bitcoin had experienced a jump from around $112,000 to over $117,000 and ETH saw an astonishing increase of over 16% in a short time. As speculation about the Federal Reserve's rate decisions continues, traders are loading up on bullish Bitcoin bets, leading to increased market volatility.

Source đź”—