Good Morning and Happy Monday from Cumberland APAC! The past week has brought an abundance of headlines that has taken BTC out of the range in which it traded for most of August. The most significant headline of the week (and in some ways, the year) were dovish comments from Jerome Powell at Jackson Hole. While the market had been looking for a first rate cut in September, Powell added some certainty, saying “The time has come to adjust… the pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.” In many ways, Fed policy has been the primary driver of crypto prices in the past several years; the bull market in 2021 was cooled in 2022 by the Fed’s tightening cycle, and prices didn’t recover until the... 
