Crypto market picks up: Bitcoin, Ethereum and XRP increase

INFBusiness
23.08.2025
News

Following Jerome Powell's speech in Jackson Hole yesterday, in which the Fed chief announced a possible cut in the key interest rate, the crypto market is reacting with strong price jumps – especially the altcoins.
The total crypto market capitalization has increased by four percent in the past 24 hours, once again exceeding the four trillion US dollar mark.
While the Bitcoin price is still rising moderately, rising by around two percent to $115,000, the altcoins are finally flipping the switch.
Ethereum climbed nine percent. After a significant uptrend in recent days, the second-largest cryptocurrency reached a new all-time high of just under $4,900 in yesterday's trading.
XRP is also significantly up. With a six percent increase, the Ripple coin is once again just above the $3 mark.
However, with growth of around ten percent each, Solana and Dogecoin are among today's top performers among the ten largest cryptocurrencies.
The euphoria is also reflected in the Fear and Greed Index. Compared to the previous day, the sentiment barometer gained a full ten points, returning to the “greed” range.
The reason for the recent crypto rally is a surprisingly dovish speech by Fed Chairman Jerome Powell, which has boosted expectations of a US interest rate cut in September.
This could also signal the beginning of the long-awaited altcoin season. According to data from Blockchaincenter, the Altcoin Season Index has gained nearly 20 points in the past two weeks, a sign that altcoins are gradually moving more into the spotlight.

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