September Altcoin Season Confirmed? Two Massive Catalysts Are Here

• The imminent approval of the Clarity Act will trigger massive adoption of altcoins, led by institutional investors.
• The top beneficiaries of a clear crypto regulatory framework are decentralized networks led by Ethereum, and Solana.
• Today’s speech by Fed Chair Jerome Powell will have direct implications on the wider crypto market.

The recent Bitcoin (BTC) price drop below $113k has weighed down on the wider altcoin market. Palpable fear of a broader crypto correction lingers, stirred by mixed inflationary data and anticipation of Fed Chair Jerome Powell’s upcoming speech at the Jackson Hole Symposium.

On Thursday, U.S. unemployment claims for the week ending August 16 were reported at 235,000, slightly higher than anticipated. Despite this, data from the Kalshi prediction market shows that following the latest CPI report, traders are pricing in a 60% probability of a 25-basis-point Fed rate cut in September, a significant increase that counters recent market anxieties.

Meanwhile, Kashi traders have been making more bets for the Fed to maintain its rate between 4.25% and 4.5%, whereby the odds have surged from 23% to about 37% in the past three days.

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