Bitcoin Hits $65,000 Following Rate Cut Expectations ๐
During his speech in Jackson Hole (Wyoming, USA), Fed Chair Jerome Powell stated that "the time has come for a rate cut." The pace of monetary policy easing will depend on economic indicators.
The next meeting is scheduled for September 18. Market participants are anticipating a 0.25% rate cut with a 67.5% probability, and a 0.5% cut with a 32.5% probability. ๐ง
After Powellโs speech, Bitcoin experienced significant volatility. It first broke through the $62,000 level, then dropped nearly to $60,000, and subsequently made a remarkable leap to $65,000. The cryptocurrency has since corrected slightly and is currently trading around $64,000. ๐
