Bitcoin remained above $113,600 as traders anticipated Fed Chair Jerome Powell's speech at Jackson Hole, which could influence potential rate cuts. Solana (SOL) and Dogecoin (DOGE) experienced notable gains of approximately 4%, while other major cryptocurrencies like XRP and BNB saw modest increases of 1% to 3%. Market sentiment has shifted towards caution amid weakening jobs data and persistent inflation, causing uncertainty about the Fed's next moves. A pivotal support level for Bitcoin is around $108,000, with concerns that a drop below this could lead to testing lower thresholds, such as $100,000. Short-term Bitcoin holders are reportedly selling at losses for the first time since January, a sign that may indicate deeper corrections. As Powell’s remarks loom, traders brace for potential volatility. A dovish shift in policy could catalyze positive momentum in the cryptocurrency market, while any hesitations might exacerbate downward trends.

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