Bitcoin traded between $60,000 and $62,000, keeping the broader crypto market stable with observers divided over what Federal Reserve Chairman Jerome Powell will say at Friday’s meeting in Jackson Hole. “Given last Wednesday’s good CPI reading, we’re likely to see a dovey Powell tone on Friday,” Amberdata said in its weekly newsletter, hinting at a potential favorable development for risk assets including cryptocurrencies. Meanwhile, crypto options-focused tech platform SignalPlus said Powell could be cautious. At Deribit, the options market isn’t expecting a Powell-induced volatility spike. “BTC one-day options are indicating a 2.5% price swing [in either direction],” Martin Cheung, head of options trading at Pulsar, told CoinDesk. Markus Thielen, founder of 10x Research, said the setup looks good, with the ascending triangle pointing to a small rally.
