We are getting relatively close to “The Merge” but is becoming increasingly obvious to me that perhaps we are “buying the rumor and selling the news” when it comes to this market. 

The ETH/USD has fallen hard during the trading session on Friday, as Jerome Powell gave his Jackson Hole speech. He reiterated that the Federal Reserve was in fact going to remain very hawkish, and therefore tight monetary policy should continue to work against the value of risk appetite-related assets such as Ethereum.