Overview

• Bitcoin was rejected near $117,370 on Aug. 23 and slipped to about $115,600, leaving it consolidating in the mid-$110,000s.
• Federal Reserve Chair Jerome Powell’s dovish remarks lifted rate‑cut odds to roughly 75% on CME FedWatch and helped send Ethereum to a record near $4,900.
• Analyst Ali Martinez highlighted the MVRV Momentum signal, noting that reclaiming the 70‑day SMA around $118,000 would mark a bullish trend shift.
• Bitcoin ETFs recorded $23 million in outflows on Friday and about $1.2 billion over six straight sessions, while Ethereum funds saw strong net inflows on Thursday and Friday.
• CryptoQuant’s Coinbase Premium Index dropped to 0.002%, its lowest since Aug. 1, and Coinglass data showed roughly $3 billion in shorts clustered near $117,800 that likely constrained upside.