Aug 21, 10:46 AM

Bitcoin Nears $113K, Binance Coin Hits $880 ATH Amid ETF Outflows and Kanye’s $3B YZY Coin Surge Ahead of Powell Speech

On August 21, 2025, the cryptocurrency market exhibited mixed performance amid investor caution ahead of Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium. Bitcoin (BTC) briefly climbed back above $113,000 after recent lows but faced a slight decline of around 1%, with long-term sentiment indicators turning negative for the first time since 2023. Ethereum (ETH) showed resilience, trading near $4,280 with a 2% gain, while Solana (SOL) also rose by about 1%. Binance Coin (BNB) reached a new all-time high of $880 overnight before retracing. Other altcoins such as XRP, Dogecoin, OKB, LINK, AAVE, BGB, and PENGU recorded gains. The market experienced outflows from Bitcoin and Ethereum ETFs, totaling approximately $312 million and $240 million respectively, contributing to the downward pressure. Additionally, Kanye West briefly propelled his YZY coin to a $3 billion valuation before it declined. The market downturn has been attributed to factors including Federal Reserve policies, mass liquidations, and investor apprehension.