What happened: The U.S. dollar inched up slightly to 98.988 against a basket of currencies as markets braced for crucial personal consumption expenditures (PCE) inflation data and the Federal Reserve's annual Jackson Hole gathering. Meanwhile, amidst shifting macroeconomic pressures, trade tensions, and declining oil prices, the crypto market saw a solid rebound, with Bitcoin climbing 1% to $79,005.72 and Ether gaining 1.1% to $2,462.85.
Why it matters: As investors grow jittery about the long-term value of fiat currencies and potential central bank policy shifts, digital assets are catching a strong bid. Both Bitcoin and Ether have notched massive monthly gains—up 25% and 32% respectively—proving that macro uncertainty continues to drive capital into crypto as an alternative store of value.
