The Powell PUMP
Fed Chair Jerome Powell delivered a highly anticipated speech this morning at the Jackson Hole Economic Symposium, sending a bullish jolt through financial markets.
He noted: “The shifting balance of risks may warrant adjusting our policy stance.”
Markets took that as a green light. The FedWatch tool now shows an 83% chance of a September rate cut.. up from 75% prior to the speech. That alone triggered a sharp rally in crypto, pushing total market cap back above $4 trillion. Equities followed, with the S&P closing up +1.52%.
But the market is still walking a tightrope.
As the Kobeissi Letter highlighted, the Fed is on the verge of cutting rates into stagflation ~ a toxic mix of high inflation, stagnant growth, and elevated unemployment. When inflation runs hot, cash loses value fast. That’s why owning assets that can appreciate with inflation (real estate, commodities, equities & crypto) becomes essential.
Technical Analysis
Bitcoin bounced from $111K to $117K, though momentum has stalled around the 200D SMA. Meanwhile, Bitcoin dominance is dropping fast, with altcoins like Ethereum and Solana stealing the spotlight.
Ethereum has been the darling of 2025. Since bottoming at $1500 in April, earlier this year, it’s been on a monster 220% run. Ethereum tapped $4,800 before retracing to $4,000, and has now rallied all the way to new all time highs. Fundstrat’s Tom Lee is predicting this move will take us to $5,100.
Solana ripped from $180 to $200 this afternoon, holding support, but is now facing heavy resistance in the $200–$220 zone. Unlike BTC and ETH, Solana doesn’t yet have a major ETF backing it. We think the next leg up will likely come from ETF-driven inflows.
Market News
Kanye West launches the YZY token.
The Yeezy Money ecosystem includes:
Ye Pay: A payment processor supporting YZY, USDC, and traditional payments
YZY Card: A non-custodial debit card for spending YZY and stablecoins globally
Utility: Loyalty rewards, Yeezy merch payments, peer-to-peer transfers (details TBD)
Within 40 minutes of launch, YZY hit a $3B market cap, peaking at $3.16, before crashing to $0.73. On-chain sleuths quickly spotted insider activity. One wallet turned $450K USDC into $1.5M, while another netted $6M in unrealized gains. Rumors are swirling that the token may be tied to serial rug-puller Hayden Davis.
Vybe Update:
Vybe’s new Wallet Profile v2 page goes live MONDAY.
You can claim back rent fees from past memecoin trades, track your 1Y PnL, and get deeper insights into your wallet. You’d be surprised at how much money you have hiding there..
Check out Vybe.fyi and see what you’ve been missing.
That’s it for this edition of Market Vybe.
We’re not convinced the market is ready for another wave of celebrity memecoins just yet. All eyes are on the Fed as we inch closer to the first major rate cut in years.
See you next week.