Cryptocurrencies, including Bitcoin and Ether, surged after Federal Reserve President Jerome Powell struck a dovish tone at the Jackson Hole economic symposium, leading to predictions of new all-time highs. Powell hinted at a possible rate cut in September due to rising downside risks to employment and the short-lived effects of Trump’s tariffs on inflation. Ether’s price is expected to exceed $5,000, with market internals remaining constructive. Ethereum’s native token, Ether, has already risen nearly 10% in 24 hours to above $4,800. Data from Deribit-listed options shows a positive sentiment for Ether. Traders should remain cautious about potential pitfalls from corporate treasury cryptocurrency adoption and equity market volatility.

Read more at Yahoo Finance: Ether Likely to Top $5K, BTC May See New High as Powell Sparks Rally, Asset Managers Say