#Crypto Market Rebound#

The main focus of the crypto market over the past seven days has been on the head of the U.S. Federal Reserve, Jerome Powell. The anticipation of his speech at the Jackson Hole conference has caused significant volatility in the market.
On Monday, Bitcoin started with a sharp drop from $118,000 to $115,000.
The correction set the trend for the first half of the week. By Thursday, with interruptions for short recoveries, digital gold had collapsed to $112,000.
However, on the evening of August 22, the asset almost completely recovered from the drop amid the positivity from Powell's speech. In less than two hours, digital gold soared above $117,000.
The head of the Fed hinted at the readiness to lower the key interest rate in September, but also pointed to weak labor market data and an economic slowdown.
Currently, the share of investors expecting a rate cut at the next Federal Reserve meeting is 75%, although immediately after Powell's speech, the figure reached 89%.
Ethereum has once again outperformed Bitcoin in weekly dynamics — +5% versus -3%. Against the backdrop of overall positivity, the coin managed to update its historical maximum, albeit just a few dollars above the previous one.
As of the time of writing, the second largest cryptocurrency by market capitalization is trading around $4770.
The entire past trading week for spot Bitcoin ETFs was accompanied by outflows, amounting to $1.17 billion.
A similar picture was observed in Ethereum products, from which $578 million was withdrawn. However, on August 21, funds attracted $288 million, covering almost a third of the losses.
Overall, most altcoins performed better than the flagship. On August 21, BNB set a new all-time high of $881.
The XRP price has remained above $3, and the SOL quotes have risen to $205.
The total market capitalization of the cryptocurrency market is slightly above $4 trillion. Bitcoin's dominance has decreased to 56.4%.
The Cryptocurrency Fear and Greed Index is at 53, indicating neutral sentiments.