Market Experts Say, “Powell’s Speech Will Be Followed in Bitcoin (BTC) Today”!
Today, FED Chairman Jerome Powell’s statements may affect the price of crypto assets.
As of today, a critical day will be experienced in the cryptocurrency sector and traditional financial markets. Some economic data from the US and the speech of US Federal Reserve (FED) Chairman Jerome Powell may affect the price movements of crypto assets.
QCP Capital, a successful analytics company, shared a report on the developments to be followed in the crypto market today and provided the following information:
“Bitcoin (BTC) continues to consolidate below the $ 64,000 level due to the lack of macroeconomic catalysts from the US. While BTC fluctuates between $ 62,000 and $ 64,000, ETH is traded below $ 2,600.
Overnight, presidential candidate Kamala Harris reiterated her support for cryptocurrencies for the second time this week, promising to position the US as a dominant force in “AI, quantum computing and blockchain.” Harris reiterated that digital assets will be included in her economic plan.
Key macroeconomic developments to watch today include US GDP data and Fed Chair Powell’s statements. The market will be watching closely for any changes in sentiment in Powell’s statements following the FOMC press conference held last Thursday.
As of today, Fed Chair Powell’s speech will begin at 16:20 GMT. Our readers should note that this speech could affect the price of crypto assets.
