Powell made clear the tone of interest rate cuts, BTC soared 6%, sounding the bull market charge? 🔥🔥🔥

On Friday night, Federal Reserve Chairman Powell made positive remarks on the September interest rate cut at the Jackson Hole Conference, and Bitcoin and the overall crypto market ushered in a sharp rise.

OKX market data showed that at 22:00 on Friday night, BTC first broke through 62,000 USDT in a short period of time, and then fell for a short time; thereafter, within 8 hours, BTC once again rushed upward to break through 65,000 USDT, with the highest increase of 6.9%. As of press time, BTC was temporarily reported at 63,918 USDT, with a 24-hour increase of 3.87%.

Altcoins led by ETH also performed well, breaking away from the previous "monkey market" market and rising all the way. ETH broke through the 2800 USDT mark, with the highest increase of 6.3%. It is currently reported at 2754.31 USDT, with a 24-hour increase of 3.13%; SOL is temporarily reported at 153.5 USDT, with a 24-hour increase of 6.29%; ORDI is temporarily reported at 35.43 USDT, with a 24-hour increase of 10.7%; PEPE is temporarily reported at 0.000009 USDT, with a 24-hour increase of 8.25%; PEOPLE is temporarily reported at 0.0677 USDT, with a 24-hour increase of 12.09%.

Affected by the overall market rise, the total market value of cryptocurrencies has also risen sharply. CoinGecko data shows that the total market value of cryptocurrencies has now rebounded to 2.35 trillion US dollars, with a 24-hour increase of 3.5%.

In terms of derivatives trading, Coinglass data shows that the entire network has been liquidated for $181 million in the past 24 hours, most of which are short orders, amounting to $139 million. In terms of currencies, BTC liquidated $49.4047 million and ETH liquidated $47.8486 million.

Before the speech of Federal Reserve Chairman Powell, U.S. stocks opened higher, with the Dow Jones Industrial Average up 0.41%, the S&P 500 up 0.57%, the Nasdaq up 0.8%, Coinbase up 1.03%, and MicroStrategy up 1.7%.

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