Fed Shakes Crypto Markets: BTC, ETH, SOL Tumble While RBLK Defies Gravity

Another day, another Fed-induced rollercoaster—because who needs stability when you’ve got volatility?

Major cryptos take a hit

Bitcoin’s playing limbo again, Ethereum’s gas fees remain a mystery tax, and Solana’s ‘Ethereum killer’ narrative gets another reality check. Meanwhile, RBLK—the token that apparently didn’t get the memo—holds steady while the giants wobble. Classic crypto theater.

The institutional shrug

Traders are treating Powell’s latest speech like a Rorschach test—bulls see dovish hints, bears see delayed cuts, and everyone else just sees another excuse to overleverage. Pro tip: maybe don’t check your portfolio before coffee today.

Silver lining playbook

For the degenerates still awake: these dips aren’t crashes, they’re ‘discounts’—at least that’s what your favorite crypto influencer will scream before their next rug pull. Just remember: in traditional finance, this would be called ‘risk.’ Here? We call it Tuesday.

Bitcoin Corrects As $120k Support Gives In

Bitcoin (BTC) is in a cool-off phase after its summer run culminated at $124k, establishing a new all-time high. Right now, Bitcoin is trading at $117k, with little to no movement in terms of intraday price action. Bitcoin volume has also seen a significant 28% drop, with about $76 billion worth of BTC traded across exchanges in the last 24 hours.

Source: CoinMarketCap

Prominent trader and analyst Ted Pillows remains bullish on Bitcoin, as he points out that this retracement was necessary to fill out the CME gap on the bitcoin crypto chart. This level is shaping up to become the springboard from which Bitcoin will rebound and resume its upward momentum.

Ethereum Eyes New ATH

Ethereum (ETH) has been on a roll over the last few months, rising from the $1,474 bottom that it tapped in April, all the way up to $4,776. This price point marked the weekly high, as Ethereum is currently selling for $4,390 and its gains over the past seven days amount to 4%.

However, on the macro level, Ethereum’s monthly RSI shows that ETH is entering the overbought level, and is currently sitting at 64 points. While there’s still room for growth, Ethereum holders should keep in mind that a local top could be approaching. With that being said, a surge toward the $5,000 milestone seems to be in the cards for Ethereum.

Source: CryptoWaves

Solana Faces Rejection Once Again, What’s Next?

Solana (SOL) is still lagging behind compared to other major altcoins, as every attempt for a breakout above $200 has been met by significant selling pressure. This resistance level appears to be a critical obstacle that solana bulls must overcome for the momentum to continue, and possibly send Solana to new heights.

As of August 16, Solana is priced at $186 following a 4.3% decrease, but with slight monthly gains amounting to 2%. Solana’s volume has also taken a significant hit, and today it is down 46% with $7.8 billion changing hands. This comes as no surprise, as market participants are taking a step back amid the FED uncertainty and logging off en masse heading into the weekend.

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