🟢Following Federal Reserve Chair Jerome Powell’s remarks, investors have increased their appetite for risk assets, pushing the Fear & Greed Index to 60 points from 50 the day before. Powell suggested that a rate cut in September is possible, sparking growth: Bitcoin climbed 5% to $117.3K, while Ethereum gained 11.5%, approaching its 2021 all-time high.
🟢Jeffrey Zirlin, co-founder of Axie Infinity, noted that lower rates make Ethereum more attractive by boosting DeFi yields compared to traditional bank deposits. However, divisions remain within the Fed, and the market’s next moves will hinge on the outcome of the September 17 meeting.
