The upward movement in the crypto market is due to this.

1 Powell’s Bold Statements:
🔸 Jerome #Powell shook the markets today, revealing that the US Federal Reserve is set to lower interest rates! 📉
🔸 His confidence is soaring as he believes **inflation** is on track to hit the 2% target!
🔸 Powell also acknowledged the **labor market** is cooling down from its overheated state.
🔸 The size of the rate cut will depend on incoming data and the economic outlook. The Fed is ready to act!

2⃣ **Market Reactions:**
🚀 **Bitcoin** skyrocketed by over 1%, reaching a new high of **$61,900**!
📈 **Nasdaq** (+1.7%) and **S&P 500** (+1.2%) surged, while **gold** climbed 1%!
📉 **10-year Treasury yield** dropped by 5 basis points to 3.80%.
💥 The **US Dollar index** took a hit, sliding by 0.6%!

3⃣ **Rate Cut Speculation:**
🔍 Will it be **25** or **50 basis points**? Market whispers suggest a 25bps cut, but the odds of a 50bps move just jumped from **24% to 32.5%**!

4⃣ **Eyes on Data:**
📊 All eyes are on the upcoming **August employment** and **inflation reports**—these will be the final pieces of the puzzle for the Fed’s decision.

**Powell’s words have set the stage for a potential game-changing rate cut! The markets are on fire, but the next move depends on the data. Stay tuned for more market-shaking updates!** 🔥