Ethereum and Bitcoin saw significant price increases following Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole summit, where he indicated the possibility of an interest rate cut. Within minutes of his speech, Bitcoin's price surged from $112,000 to $114,700, while Ethereum rose from $4,300 to $4,600. Powell emphasized the balance of inflation risks compared to employment factors; he noted that the central bank may adjust its policies based on changing conditions, creating uncertainty for markets that had expected a more hawkish stance. The remarks marked a shift as Powell acknowledged evolving economic conditions and anticipated adjustments in the Fed's approach in the upcoming September meeting, which could further impact crypto markets. Despite the short-term surge, both cryptocurrencies were still down over the week, reflecting broader market volatility and investor caution ahead of potential Fed policy changes.

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