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    Home»Regulation»BNB and ETH Reach Record Highs as BTC Soars Following Powell’s Speech: Weekend Update
    Regulation

    BNB and ETH Reach Record Highs as BTC Soars Following Powell’s Speech: Weekend Update

    Ethan CarterBy Ethan CarterAugust 23, 2025No Comments3 Mins Read
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    The eagerly awaited Jackson Hole address by Fed Chair Jerome Powell was met with great excitement from investors, who infused billions into the cryptocurrency market.

    Bitcoin surged over five thousand dollars from its low to high, while several major altcoins reached new all-time records.

    BTC Surged Above $117K

    The days leading up to the event were rather bleak. Bitcoin began the business week with an immediate drop, falling from over $118,000 to $115,000. Although bulls attempted a quick rebound, BTC was halted at $117,000 and plunged further to below $113,000 by Wednesday and Thursday.

    The situation deteriorated on Friday, just hours before the Jackson Hole event, with BTC dipping again to its lowest point since early July, at under $111,700.

    However, as Powell took the stage, the dynamics shifted rapidly. While he did not confirm September rate cuts, his remarks were viewed positively for potential future reductions, causing BTC to soar within minutes to over $117,000.

    Since then, it has retraced slightly but remains below $116,000, still showing over 2% growth for the day. Its market cap exceeds $2.3 trillion, although its dominance over altcoins has declined to 56.5%.

    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    ETH, BNB Reach New ATHs

    Arguably the most significant beneficiary of Powell’s speech among large-cap altcoins was Ethereum. The second-largest cryptocurrency had briefly dipped below $4,200 earlier in the day but then surged to a new all-time high of approximately $4,900 (this has yet to be confirmed by CoinGecko, but it appeared on most exchanges).

    Binance Coin also experienced a significant rise, hitting a new peak of $900. SOL gained 10%, ADA rose by 7%, DOGE by 9%, SIU by 9%, XLM by 5.5%, and AVAX increased by 9%. XRP successfully reclaimed a key resistance level of $3.00.

    With most other altcoins posting substantial gains, it’s no surprise that the total crypto market cap has increased by over $200 billion since yesterday’s low, nearing $4.1 trillion on CG.

    Cryptocurrency Market Overview. Source: QuantifyCrypto
    Cryptocurrency Market Overview. Source: QuantifyCrypto
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    Cryptocurrency charts by TradingView.

    BNB BTC ETH Highs Powells reach Record Soars Speech Update Weekend
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    Ethan Carter

      Ethan is a seasoned cryptocurrency writer with extensive experience contributing to leading U.S.-based blockchain and fintech publications. His work blends in-depth market analysis with accessible explanations, making complex crypto topics understandable for a broad audience. Over the years, he has covered Bitcoin, Ethereum, DeFi, NFTs, and emerging blockchain trends, always with a focus on accuracy and insight. Ethan's articles have appeared on major crypto portals, where his expertise in market trends and investment strategies has earned him a loyal readership.

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