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21 August 2025,07:44
Daily Market Analysis
21 August 2025, 07:44
Key Takeaways:
*BTC gained 0.7% and ETH jumped 3.8% after last week’s sharp selloff, driven by dovish FOMC minutes.
*Significant net outflows persist, including ~$1B in ETH withdrawals; Fear & Greed Index holds at a neutral 51.
*Powell’s remarks could set the tone — dovish signals may fuel a rebound, while hawkish cues risk renewed pressure.
Market Summary:
Major digital assets edged higher during the previous session, recovering marginally from a steep sell-off that gripped markets last week. The rally was led by Ethereum, which climbed 3.8%, while Bitcoin registered a more modest gain of 0.7%. The moves prompted tentative speculation among traders over whether the market is poised to resume its prior upward trajectory or if the rebound merely represents a technical correction within a broader downtrend.
The catalyst for the uptick appeared to stem from the release of the latest Federal Open Market Committee meeting minutes, which markets perceived as carrying a moderately dovish undertone. This interpretation helped rejuvenate risk appetite, providing a bid for speculative assets, including cryptocurrencies. Despite the green on the screen, underlying market health signals remain weak. Both Bitcoin and Ethereum have continued to experience substantial net outflows from major exchange-traded products, with Ethereum alone witnessing withdrawals approximating $1 billion over the past week, indicating persistent institutional distribution.
Market sentiment, as gauged by the widely watched Crypto Fear & Greed Index, reflects this caution. The index has receded to a neutral reading of 51, a significant pullback from recent euphoric levels, suggesting that investor conviction behind the move is lacking.
The focus now shifts squarely to the Jackson Hole Economic Symposium, where scheduled commentary from Federal Reserve Chair Jerome Powell is anticipated to serve as a critical directional catalyst for digital asset markets. A communicated stance that is interpreted as supportive of liquidity could further bolster risk assets and extend the cryptocurrency rebound. Conversely, any reaffirmation of a hawkish, higher-for-longer rate posture will likely exacerbate selling pressure, potentially validating the current bearish momentum and challenging key technical support levels across the crypto complex.
Technical Analysis
BTC, H4:
Bitcoin (BTC) remains under the grip of bearish momentum after being rejected near its all-time high around the $123,000 mark. The cryptocurrency has since traded in a clear downward channel, reflecting sustained selling pressure.
In recent sessions, BTC made an attempt to break out of this downtrend channel, hinting at a potential shift in momentum. A decisive break above the immediate resistance at $115,000 could signal a stronger bullish reversal and attract fresh buying interest.
However, technical indicators suggest the bears still hold the upper hand. The RSI is hovering near the oversold zone, showing weak buying conviction, while the MACD remains below the zero line and continues to drift lower, underscoring that bearish momentum is still dominant in the market.
Resistance level: 115,140.00, 117,200.00
Support level: 113,000.00, 110,400.00
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