Markets Await Jackson Hole Outcome

Macroeconomic Caution

Markets are treading carefully ahead of key U.S. economic data and Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium. After recent gains, profit-taking has added selling pressure, while weaker ETF flows have further dampened sentiment.

Bitcoin (BTC): BTC slipped 2% to trade near $113,000, weighed by profit-taking and caution surrounding Fed policy. On Aug 19, spot Bitcoin ETFs posted $523.3M net outflows, marking a cooling in institutional demand.

Ethereum (ETH): ETH fell to $4,100, pressured by record short interest and rising liquidation risks. Spot Ether ETFs also saw $422.2M in outflows, signaling investor caution.

Solana (SOL): Down 15.5% from recent highs, SOL faces uncertainty after the SEC delayed its decision on Solana spot ETFs until October 16.

XRP (XRP): XRP slipped below $3, hit by shifting sentiment and anticipation of Powell’s comments.

Cardano (ADA): ADA dropped to $0.85, among the day’s biggest losers. Despite whale accumulation of 200M ADA tokens, short-term flows suggest rotation into other assets.

Broad Market: PENUG, POL, and SEI fell 5%. XRP, DOGE, XLM, SUI, BCH, XMR, and ALGO dropped 2–3%. By contrast, LINK, LTC, and TON gained about 2%.

Corporate Treasury: Sports betting platform SharpLink Gaming snapped up Ether last week. The acquisition brought SharpLink’s Ether holdings to 740,760 ETH, worth about $3.2 billion at current market prices.

Nasdaq-listed KindlyMD acquired 5,744 Bitcoin for about $679 million at a weighted average price of $118,204 per Bitcoin.

Wyoming announced the mainnet launch of the Frontier Stable Token stablecoin, becoming one of the first US states to issue a stablecoin.

Outlook

Rate-cut expectations for September have slipped to 85% (from 98%) after a hotter-than-expected PPI report stoked inflation fears. With sticky inflation, tariff impacts, and resilient employment, Bank of America expects the Fed to hold rates. Powell’s keynote at the Kansas City Fed symposium will be critical in shaping near-term market direction.

Whale Activity: To know about which coins whales are hunting in this dip, click the link to watch the story.

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