Recently, the sentiment in the cryptocurrency market has undergone a significant shift, closely related to the latest remarks from Federal Reserve Chairman Jerome Powell. At the Jackson Hole Economic Symposium, Powell's speech hinted that the Federal Reserve might consider adjusting monetary policy in September, and this signal immediately triggered a positive response from the market.

The cryptocurrency fear and greed index, a widely followed barometer of market sentiment, surged sharply to 60 points on Saturday, entering the 'greed' zone. This value is a significant increase from the previous day's 'neutral' level of 50 points, reflecting a rapid recovery of investor confidence.

In Powell's speech, he mentioned that the current inflation and employment market conditions may require a reassessment of the monetary policy stance. This statement was interpreted by the market as a potential signal for interest rate cuts, which immediately triggered a significant rise in cryptocurrency prices. Bitcoin's price surged by 5%, reaching $117,300, while triggering a large number of short positions to be closed. Ethereum's performance was even more notable, briefly approaching its historical high of $4,878 set in 2021, with a 24-hour increase of over 11%.

Industry experts point out that Ethereum may be the asset most sensitive to interest rate changes among cryptocurrencies. With the expectations of interest rate cuts heating up, the market generally believes this will bring more upward momentum to cryptocurrencies, especially Ethereum.

However, investors still need to approach market fluctuations with caution. Although the current sentiment is leaning towards optimism, the high volatility of the encryption currency market still exists. Experts suggest that investors should take into account multiple factors when making decisions, rather than solely relying on short-term changes in market sentiment.

As the global economic situation continues to evolve, the cryptocurrency market will remain profoundly influenced by macroeconomic policies. Investors and market participants need to closely monitor the policy trends of central banks around the world, as well as the potential chain reactions that may arise in the digital asset space.