With Jackson Hole right around the corner, a trader has shared his outlook on where Bitcoin and Ethereum could head next. He sees the market in a consolidation phase for now, with the next big move likely hinging on what comes out of the meeting.

Crypto Market Stuck in Consolidation

The trader points out that both Bitcoin and Ethereum are stuck trading in a tight range. Investors are mostly sitting on their hands, waiting to see how macroeconomic factors play out. Because of this, trading activity has dropped off and volatility is staying pretty mild.

How Jackson Hole Could Move Prices

Jackson Hole always grabs the attention of global markets, and crypto is no exception. Traders are watching for any statements from the event that could spark a new move in Bitcoin or Ethereum. According to the trader, whatever comes out of Jackson Hole could set the tone for how the market trades in the near future.

Potential Scenarios for Crypto

The trader sees a few possible paths: the market could keep consolidating, or we could see a breakout if new signals emerge. Crypto traders are glued to the headlines and ready to react if the macro picture shifts.