Bitcoin traders eye Jackson Hole for potential bullish signals; Powell's speech could drive BTC price, depending on tone on rate cuts.

The cryptocurrency market surged on Friday after U.S. Federal Reserve chair Jerome Powell delivered his much-anticipated remarks at the central bank’s annual symposium in Jackson Hole, Wyoming. Bitcoin rallied above $115,000, while Ethereum climbed more than 8% to trade above $4,600, sparking widespread optimism across digital assets.

Crypto markets are treading water as investors wait for Fed Chair Jerome Powell’s Jackson Hole speech, where a hawkish tone could drag bitcoin lower while a dovish pivot may offer relief.