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Key Takeaways
- BTC consolidating in the $115K–$117K range, with $115K as key support and $120K–$123K as immediate resistance. Fed Chair Powell expected to keep a neutral stance at Jackson Hole, avoiding firm dovish commitments.
- ETH rally stalls again at +1σ Active Realized Price (~$4.7K), consistent with prior cycle resistance zones.
- ETF inflows remain resilient: BTC ETFs +$547M weekly, ETH ETFs +$2.85B weekly (record). Elevated medium-term implied volatility ratio signals rising structural/macro concern.