๐ Powell Sending Ripples Through Crypto Market with Crucial Statements ๐
๐ฎ Future Outlook:
- ๐ Bullish Catalyst: Galaxy Digital CEO Mike Novogratz identifies rate cuts as a bullish catalyst for Bitcoin in 2024.
Stay informed on the latest market movements and Powell's statements! ๐น
๐ฃ๏ธ Key Highlights from Powell's Statements:
- ๐ Rate Cut Possibility:A rate cut could be on the table as soon as the next meeting.
- ๐ Unanimous Decision:The decision was unanimous among central bank members.
- ๐ Monitoring Labor Market:
- Normalizing Trends: Labor market showing signs of normalization.
- Careful Observation: Central bank is closely watching for continued trends.
๐ Rate Cut Odds:
- ๐ September Rate Cut:93.5% probability after Powell's recent dovish speech.
- ๐ฌ Potential Multiple Cuts:Powell did not rule out several rate cuts this year but also cautioned about holding rates steady.
๐ฅ Crypto Market Impact:
- ๐ Bitcoin's Plunge:Bitcoin drops below $65,000 despite imminent rate cut.
- ๐ Selling Pressure: Renewed pressure after Mt. Gox moved $3.3 billion worth of Bitcoin today.
