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OKB soared to a new all-time high (ATH), Kanye West’s YZY token plummeted, and Bitcoin dropped below $113K ahead of Fed Chair Jerome Powell’s Jackson Hole Speech later today.
OKB led gainers with a 16% surge to trade at $218 as of 4:15 a.m. EST, where it also touched a new ATH at $255.50.
Among other top gainers, Zcash (ZEC) jumped 9.8%, GateToken (GT) climbed 5.6%, and KuCoin Token (KCS) rose 3.2%.
Meanwhile, the Bitcoin price tumbled a fraction of a percent to trade at $112,837 ahead of Powell’s potentially pivotal speech. Investors will be watching closely for signals on whether the Fed is preparing to cut rates in September or remains concerned about inflation.
OKB Soars To ATH As Broader Market Dips With Neutral Sentiment
OKB has reached a new all-time high at around $229, with Fibonacci retracements indicating key support at $200 and resistance at $236.
The 50-day and 200-day Simple Moving Averages (SMAs) remain bullish, and the RSI at 59.17 reflects strong but cooling momentum.
If buyers maintain the price above $200, OKB could target $294. A strong support zone lies at $171.
The biggest losers among major cryptos were Pump.fun (PUMP), Tezos (XTZ), and Official Trump (TRUMP), with falls of 3.7%, 3.2%, and 2.9%, respectively.
This comes as the Fear and Greed Index remained at the neutral level of 50, down sharply from 60 last week.
The falling market led to total liquidations of $224 million, according to Coinglass.
Kanye West’s YZY Token Plummets 45% After Launch
YZY MONEY, a token linked to rapper Kanye West (aka Ye), plummeted 45% in the last 24 hours to trade at $0.6523.
The token soared initially to reach a market cap of $3 billion after it was promoted on Kanye West’s X account. But its subsequent collapse appeared to confirm concerns that it might be a rugpull.
While controversial influencer Andrew Tate is sitting on an unrealized profit of $41K and 13 other wallets pocketed over $1 million each from the token, thousands of investors have been left with losses. Just six addresses, likely insiders, control a whopping 90%, according to BubbleMaps data.
An on-chain sleuth by the pseudonymous name Dethective linked one of the wallets that sniped the YZY token to another set of wallets behind the LIBRA token, adding to suspicions around the token.
5/ A recap
This is what they extracted so far with:
• Inside info
• Big capitalAlmost 23M, now sitting on Kamino or already on Binance pic.twitter.com/oP1XzyfgwC
— dethective (@dethective) August 21, 2025
Bitcoin Drops Below $113k Ahead Of Powell’s Jackson Hole Speech
Bitcoin is down over 3% in the last week after hitting an ATH of over $124K on Aug. 14.
Big day today! Fed Chair Jerome Powell will speak at the Jackson Hole event today at 4pm CEST / 10am ET.
Powell has been under pressure from Trump to bring interest rates lower, while he’s getting mixed signals from economic data.
A struggling job market would inspire the Fed… pic.twitter.com/e4NDPIVL74
— Jelle (@CryptoJelleNL) August 22, 2025
Momentum Indicators Back Bullish Sentiment
The weekly BTC/USD chart shows that the Bitcoin price has dropped below the $113k level. However, the rising channel pattern has held strong since the 2022-2023 bear lows around $15K-$20K.
The 50-day Simple Moving Average (SMA) at $93,893 acts as support, which has been a key catalyst in pushing the price of BTC up.
Meanwhile, the Relative Strength Index (RSI) at 58.24 is neutral but dropping down, suggesting that sellers may be gaining some momentum to push BTC back to the $107,500 resistance turned support.
In the short term, investors are watching for resistance at $120,000, because if BTC price breaks it, $150,000 is probable.
Conversely, if today’s speech turns hawkish, Bitcoin could dump to the $94,000 support.
Despite the bullish outlook, spot Bitcoin exchange-traded funds (ETFs) have posted their longest run of outflows in over four months at about $1.17 billion, according to SoSoValue data.
ProCap CEO Anthony Pompliano says that Bitcoin has reached oversold levels, suggesting it may be ready for a rally.
ProCap CEO Anthony Pompliano says Bitcoin’s drawdown shows maturation of the asset and thinks it’s a good sign for $BTC in the long run. pic.twitter.com/IjPkv02uoG
— Crypto Aman (@cryptoamanclub) August 22, 2025
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