Crypto market recap: Bitcoin trades at $113K as investors await Jackson Hole speech

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Bitcoin trades at $113K

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Key takeaways

- Crypto market cap rose $79B to $3.82T in 24 hours; support near $3.81T critical for further gains.

- Bitcoin trades at $113,618 (+0.1% daily) after falling as low as $112,350 earlier this week.

- Ethereum up 2.7% to $4,294, though momentum remains muted compared with BTC.

- Fear and Greed Index at 50 (neutral), recovering from “fear” level of 44.

- Altcoins like Solana (+3.5%) and Dogecoin (+4.9%) led gains, while XRP, BNB, and TRX saw smaller increases.

- Powell’s Jackson Hole speech expected to define short-term market direction.

Crypto market rises after FOMC minutes

Bitcoin (BTC) and the total crypto market cap (TOTAL) rebounded, supported by a favorable response to the FOMC minutes.

Bitcoin (BTC) led the stabilization after sliding earlier in the week to $112,350, marking a 10% pullback from its August peak of just over $124,000.

By Thursday, the token had recovered, trading at $113,618, up 0.1% in 24 hours.

BTC price dynamics (July 2025). Source: TradingView

Ethereum (ETH) also posted mild gains, up about 2.7% to $4,285, though still struggling to regain strong upward momentum.

Sentiment and market drivers

The Fear and Greed Index, a widely followed sentiment gauge, moved back to neutral at 50 after dipping into the “fear” zone (44) earlier this week when Bitcoin briefly tumbled to $112,000. The recovery in sentiment reflects optimism that rate-cut expectations may support risk assets, even as concerns over tariff-driven inflation remain.

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Broader market dynamics were mixed across altcoins. Solana (SOL) and Dogecoin (DOGE) led the day’s gains with roughly 4% increases, while XRP, BNB, and TRX advanced more modestly in the 1%–3% range. Analysts cautioned that volatility is likely to persist, with Friday’s Jackson Hole speech seen as a key catalyst for near-term direction.

Weak U.S. jobs data has also fueled expectations that the Fed may lean toward easing policy in September, though any hawkish tone from Powell could reverse recent optimism and renew selling pressure.

Outlook

The market’s rebound underscores resilience after a sharp correction, but traders remain cautious. With sentiment back at neutral and liquidity conditions fragile, further direction will hinge on Powell’s message at Jackson Hole. A dovish signal could extend the recovery, while a hawkish stance risks undermining recent gains.

We also wrote earlier that Harvard economist admits misjudging Bitcoin as university backs BTC ETF.

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