There’s a strange kind of magic that descends on the market when Jerome Powell stands before the people and mutters words about “shifting economic risks.” The news spreads, as it did today, with the speed and precision of a hungry coyote sniffing out the last chicken in the coop.
Powell money line: “policy adjustment may be warranted, with rates still restrictive” setting up for a Sept cut
– Sara Eisen (@SaraEisen) August 22, 2025
ETH and XRP, those rascally coins that never quite behave, puffed their chests. A 7% leap-quick as a summer storm rolling in over the Salinas Valley-had the townsfolk rubbing their eyes. Ethereum had staggered uphill to $4,652 on Bitstamp, shaking off the dust and peering over the fence at new heights, as if it might steal a glimpse at glory without anybody noticing. Not for the first time, it’s one good run away from telling Bitcoin to go mind its own onions.
Meanwhile, XRP-the coin with more comebacks than a hard-luck farmer-clawed its way back to $3. One imagines the Ripple folks in their offices, grinning at the scoreboard like a crop finally survived a drought.
As for Bitcoin, the grand old man of the crypto town, he’s sputtering along. Managed to find $115,000, which isn’t bad, but the crowd’s attention is off him today. He’s got the haunted look of someone whose best years might be behind him, watching the younger coins dance and squabble in the dust.
Surging rate cut oddsÂ
And in the background, odds on a September rate cut sprouted like weeds after the Fed’s water was poured. Polymarket saw numbers leap from 60% to 80%. The gamblers and speculators smile-their eyes glinting like a worn silver dollar in the setting sun.
Odds of a rate cut are surging after Powell’s speech – from 60% to 80%.
The market likes it.
– Miles Deutscher (@milesdeutscher) August 22, 2025
Tom Lee, who-like any good neighbor-yells his opinion over the fence, says Powell’s speech is bullish for the majors and those disheveled small-cap coins no one quite knows what to do with. It must feel nice to be right sometimes, even if the drought never quite ends and the rabbits are always outsmarting the traps.
The day ends, coins up, hearts hopeful, and the Federal Reserve once again at the center of the story-a bit player causing commotion. At least until the next dust storm.
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2025-08-22 18:21