On August 22, 2025, the cryptocurrency market experienced a significant surge, with Bitcoin and Ethereum performing particularly well. Behind this wave of increase, there were both the influences of macroeconomic policies and the driving force of blockchain technology development.

The dovish remarks from the Federal Reserve Chairman have become the main catalyst for this rise. The market's expectations for a possible interest rate cut in September have intensified, with the probability nearing 90%. This macroeconomic backdrop has injected new vitality into the cryptocurrency market.

However, while the rise of Bitcoin and Ethereum originates from the same source, each has its own characteristics. The increase in Bitcoin is more a reflection of the shift in macroeconomic policies, driven by market sentiment. In contrast, the strong performance of Ethereum is the result of multiple factors working together.

Ethereum has not only benefited from the improvement of the macroeconomic environment but has also gained recognition from institutional investors. At the same time, breakthroughs at the technical level and a favorable policy environment have also provided strong momentum for its price increase. The combination of these factors has resulted in Ethereum's growth significantly surpassing that of Bit.

Looking ahead, investors need to closely monitor the economic data from the United States, particularly the inflation rate and employment data. These indicators will influence the Federal Reserve's decisions, which in turn will affect market liquidity expectations. If the interest rate cuts expected in September are realized, it could provide further upward momentum for the encryption market.

However, we cannot ignore the risks of market volatility. The cryptocurrency market is inherently highly volatile, especially Ethereum, which has a high market sensitivity and may face the risk of a pullback in the short term.

In the long run, Ethereum is gaining new value assessments through its unique positioning. As an asset that can generate returns (such as through staking) and as digital economic infrastructure (supporting applications like decentralized finance, stablecoins, and non-fungible tokens), Ethereum is paving a development path that is different from Bitcoin.

Overall, the recent rise in the cryptocurrency market reflects the dual impact of macroeconomic policies and innovations in blockchain technology. While investors enjoy the profits brought by the market surge, they also need to remain vigilant and manage risks effectively. The future direction of the market will depend on the development of the global economic situation and the further application and popularization of blockchain technology.