Crypto Market Buzz: Big Moves After Fed Chief's Words

Crypto prices shot up after Jerome Powell, the head of the Federal Reserve, hinted at possible interest rate cuts. This news made crypto traders feel hopeful. Bitcoin, Ethereum, and XRP saw big jumps in their values. Bitcoin reached $116, 518. 85. Ethereum hit $4, 629. 78. XRP crossed $3. 00. Other coins like Solana, Dogecoin, and Shiba Inu also saw gains. Traders had a lot to say about these price changes. Pentoshi pointed out that Bitcoin's price was the same as last week, despite wild swings in trader emotions. He suggested that sometimes, doing nothing is the best move.Skew noted that Bitcoin was stabilizing between $115, 000 and $116, 000. Holding this range could mean a recovery. Andrew Crypto said Bitcoin was following its usual pattern but needed to break above August's opening price for a bullish trend. Ethereum saw huge price swings. Rager mentioned seeing the largest hourly Ethereum candles ever. Ted Pillows said Ethereum was close to breaking an 8-year downtrend against Bitcoin. Galaxy highlighted XRP's breakout above $3, calling it the start of a new price discovery phase.