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Bitcoin Rebounds Above $114,000 as Ether surges; Market Awaits Powell’s Speech

Bitcoin Rebounds Above $114,000 as Ether surges; Market Awaits Powell’s Speech

Bitcoin rebounds above $114,600, Ether rises past $4,300 as investors await Jerome Powell’s Jackson Hole speech

Written by Rahul Dhingra, Edited by David Delima | Updated: 21 August 2025 17:47 IST

Bitcoin Rebounds Above $114,000 as Ether surges; Market Awaits Powell’s Speech

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Crypto market steadies as traders await Powell’s Jackson Hole speech

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Highlights

Bitcoin rebounds to $114,600 after dip below $113,000
Ether surges above $4,300 gaining 3.8 percent
Market eyes Powell’s Jackson Hole speech for cues

The cryptocurrency market staged a modest recovery in the last 24 hours, with Bitcoin and Ether climbing higher after recent pullbacks. On Thursday, Bitcoin was trading around $114,639 (roughly Rs. 99.7 lakh), up from intraday lows of $112,400. Ether rose 3.8 percent to hover near $4,281 (roughly Rs. 3.72 lakh), according to the CoinMarketCap data. The rebound came as traders assessed hawkish Federal Reserve minutes, macroeconomic uncertainty, and upcoming US economic indicators.

On Indian exchanges, prices reflected similar momentum, with Bitcoin trading above Rs. 98.8 lakh and Ether edging past Rs. 3.72 lakh. Analysts linked the rebound to a mix of macroeconomic triggers, ETF flows, and cautious investor accumulation.

Analysts say macroeconomic risks, ETF outflows, and regulatory signals remain critical for the market's next move

“After a 9.5 percent drop, the Bitcoin bulls attempted a recovery, which is now being challenged by the bears. The price has risen from the lows below $113,000 and is trading around $114,200, hinting towards a brief consolidated phase on the horizon. Besides, Ethereum surged above $4,300,” said the CoinDCX research team.

Crypto Jitters as Bitcoin Dips, Ether Holds, Are Traders Losing Nerve?

The CoinSwitch markets desk highlighted the macro backdrop: “BTC rebounded to $114,700 from an intraday low near $112,400 after Federal Reserve minutes highlighted persistent inflation concerns and tariff-driven risks and kept the tone slightly hawkish. Attention now shifts to Powell's Jackson Hole speech on Friday, where traders will look for clearer signals on the likelihood of a September rate cut.”

Edul Patel, Co-founder and Chief Executive Officer of Mudrex, said: “The crypto market is attempting a bounce back, with major tokens gaining over 4 percent in a day. With Bitcoin currently trading near the immediate resistance of $114,600, the next significant hurdles lie at $116,700 and $118,200. For now, investors are closely watching macroeconomic indicators such as unemployment data and PMI figures due later today, which can further influence the market sentiment.”

Avinash Shekhar, Co-founder and Chief Executive Officer of Pi42, pointed to cyclical factors: “Bitcoin's dip below $113,000 and XRP slipping under a key support level are reflective of short-term volatility driven by broader macro factors and market sentiment. However, such corrections are not uncommon in the crypto landscape.”

While traders await Powell's speech and fresh economic data, analysts believe Bitcoin's ability to clear resistance could set the tone for the next market leg.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

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Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More