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is this a perfect entry point for #
doge
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here i go!!!
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Bitcoin Blips Down as Fed's Powell Says No Rush to Cut Interest Rates Bitcoin's price took a hit after Federal Reserve Chair Jerome Powell indicated the Fed isn’t in any hurry to cut interest rates this December. Bitcoin prices dropped nearly 3% following Powell’s comments in Dallas, Texas, on November 14, where he explained that the U.S. economy is not signaling a need to lower rates quickly. Since September, the Fed has made two rate cuts—a 50 basis point cut in September, followed by a 25 basis point cut in November. However, Powell’s latest remarks have shaken hopes for another cut in December. Instead, he emphasized that the Fed wants to take a cautious approach, saying, “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.” Following Powell’s speech, Bitcoin’s value fell to around $86,979 but bounced back a bit to $88,100. According to The Kobessi Letter, a popular trading resource, the chances of a 25 basis point rate cut in December have dipped to 59%, making a Fed “pivot” to lower rates less likely. Why does this matter to Bitcoiners? Lower interest rates tend to make bonds and savings less attractive, driving more investors toward riskier assets like Bitcoin. This anticipation of a rate cut was one of the factors pushing Bitcoin closer to the $100K mark in recent months. In addition, inflation data from the U.S. Producer Price Index (PPI) for October came in slightly above expectations at 2.4%, adding to the lack of urgency for the Fed to adjust its policy. This shift in the Fed’s stance has left traders reevaluating their strategies, especially those hoping for a quick rate cut to fuel the next Bitcoin rally. So, as the December Fed meeting approaches, Bitcoiners will be closely watching for any clues on interest rates and inflation data that could impact the market further. #bitcoin☀️ #cryptofestival
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