Last week in the news

Fed Chair Powell's speech at Jackson Hole Symposium brought a significant shift in market sentiment on Friday. Markets welcomed the information regarding a potential rate cut in the coming period. The US equity markets were the major weekly gainers, where S&P 500 added 1,52% on Friday, closing the week in a plus of 0,3% at the level of 6.466. The US Dollar lost in value on the news, pushing the price of gold 0,98% higher, and close $3.371. The 10Y US benchmark yields also strongly reacted, easing to the level of 4,25%. Among weekly gainers was also BTC, which tested the resistance at $117K.

In his speech at the Jackson Hole Symposium on Friday, Fed Chair Jerome Powell took a balanced tone, acknowledging progress in bringing inflation down while emphasizing the need for continued vigilance. He noted that inflation has eased from its peak but remains above the Fed's 2% target. Powell indicated that the Fed is prepared to adjust monetary policy as needed, suggesting that if inflation continues to decline sustainably, a rate cut could be considered in the near future. However, he also stressed that the Fed will act cautiously, monitoring economic data closely to avoid reigniting inflation. Overall, his remarks signaled a potential shift toward monetary easing, but with a clear message that the path forward depends on continued improvement in inflation dynamics.

The U.S. government will acquire a 9.9% equity stake in Intel for $8.9 billion by converting previously awarded CHIPS Act grants and Secure Enclave program funds into non-voting common stock. This passive investment does not grant the government any board or governance rights, though it includes a five-year warrant to potentially purchase an additional 5% if Intel's foundry ownership drops below 51%. The agreement follows tensions between President Trump and Intel CEO Lip-Bu Tan, but industry observers suggest this move aims to bolster U.S. semiconductor manufacturing and national technological leadership.

The U.S. and EU have introduced more specifics on their updated trade framework, with clear 15 percent tariffs set for pharmaceuticals, semiconductors, lumber, and automobiles, offering some clarity to already imposed tariffs. However, many businesses remain wary -- uncertainties around customs rules, enforcement, and the deal's long-term reliability continue to create unease.

Apple is reportedly in early talks with Google to use Google's Gemini AI model to power a revamped version of Siri, sparking investor optimism. Following the news, Alphabet's stock climbed approximately 4%, while Apple's stock also gained around 2%.

According to UBS Weekly Intelligence, the biggest tech spenders (based on combined capex and R&D intensity relative to sales) are Meta, Intel, and Oracle, while the lightest spenders include Mastercard, Uber, and Accenture. Other notable names include Microsoft (36 %), Amazon (31 %), Alphabet (35 %), and Apple (11 %) -- a useful gauge of how tech firms are prioritizing investment amid the AI-driven market environment.

CRYPTO MARKET

Crypto assets surged after Fed Chair Powell's Jackson Hole remarks hinted at an interest rate cut as soon as next month, fuelling renewed risk-on sentiment. Bitcoin rallied back above $117K from below $112K, while crypto-linked stocks like MicroStrategy and Coinbase gained around 5-7%. Altcoins such as Ether and Solana also climbed sharply. Ether gained 15% on Friday, surpassing the $4,8K level. Regardless of Friday's higher push toward the higher grounds, the total crypto market capitalization remained relatively flat on a weekly level. By managing to cover weekly losses, the crypto market cap gained quite modest $9B in total cap during the week. At the same time, daily trading volumes were significantly increased to the level of $468B on a daily basis, from $312B traded the week before. Total crypto market capitalization increase from the beginning of this year currently stands at +22%, with a total funds inflow of $702B.

The previous week was significant for ETH, since this coin attracted the majority of investors attention and also funds. ETH ended the week by 7% higher from the week before, adding more than $37B to its market cap. ETH also managed to reach ATH at the level of $4.877. BTC is closing this week by 2,13% lower from the week before, after dropping during Saturday trading to the level of $115K. Other altcoins were traded in a mixed manner, with either small gains, or small weekly losses. Among higher gainers were LINK, with an increase in market cap of 14.5%, ZCash had a very good week, with a gain of 16%, while market favorite Solana was last traded higher by 7,5% w/w. This week Maker closed with a higher drop in value of 7,3%.

Regarding circulating coins, the situation was also a bit mixed. On one side was Polkadot, with a weekly increase of circulating coins by 0,6%. On the opposite side was Filecoin, with a decrease in the number of coins on the market by 0,6%. This sort of action is indeed rarely seen, when Filecoins is in question. ADA was another coin with an increase in circulating coins by 0,3%. BTC should be especially mentioned, as its circulating supply was increased by 0,1% w/w.

Crypto futures market

While BTC futures saw a week of softening prices, ETH futures rallied significantly, reflecting diverging market sentiment between the two leading crypto currencies. BTC futures experienced moderate decline across all maturities, with the largest weekly drop in March 2026 of -2,08% and June 2026 of 1,93%. The weekly price changes indicate a slightly firmer long-term sentiment, as December 2026 closed the week at $126.795 and December this year dropped by 0,9% at the level of $119.845.

In contrast, ETH futures showed strong bullish momentum, with weekly gains of around 10% across all maturities. The highest rise was in October 2025 of 10,3%, suggesting a robust market outlook for ETH in both the short and long term. At the same time ETH futures maturing in December 2026 reached their all time highest level at $5.347, while December 2025 was closed at $4.994.

MARKETS week ahead: August 24 - 29 for CRYPTOCAP:TOTAL by XBTFX