🌊 Powell Sending Ripples Through Crypto Market with Crucial Statements 🌊
🔮 Future Outlook:
- 📈 Bullish Catalyst: Galaxy Digital CEO Mike Novogratz identifies rate cuts as a bullish catalyst for Bitcoin in 2024.
Stay informed on the latest market movements and Powell's statements! 💹
🗣️ Key Highlights from Powell's Statements:
- 📉 Rate Cut Possibility:A rate cut could be on the table as soon as the next meeting.
- 📝 Unanimous Decision:The decision was unanimous among central bank members.
- 📊 Monitoring Labor Market:
- Normalizing Trends: Labor market showing signs of normalization.
- Careful Observation: Central bank is closely watching for continued trends.
📅 Rate Cut Odds:
- 📆 September Rate Cut:93.5% probability after Powell's recent dovish speech.
- 💬 Potential Multiple Cuts:Powell did not rule out several rate cuts this year but also cautioned about holding rates steady.
💥 Crypto Market Impact:
- 📉 Bitcoin's Plunge:Bitcoin drops below $65,000 despite imminent rate cut.
- 🔄 Selling Pressure: Renewed pressure after Mt. Gox moved $3.3 billion worth of Bitcoin today.
