Seeing the market so green really lifts the spirit đ». Why should we always be the ones feeling down? Let the short-sellers have their turn to worry! Powell's hawkish speech yesterday brought some life back into the market, and it looks like a rate cut in September is almost certain.
This year, weâve witnessed some major developments that have caused significant ripples across the crypto market. The approval of #BTC and Ethereum spot ETFs has given the market a strong boost, while the FED's monetary policies have also played a key role in shaping market dynamics.
In particular, the start of the rate cut process initiated by FED Chairman Powell has seen Bitcoin break through the $63,300 resistance level, marking an important milestone. As long as it stays above this level, the $70,000 target comes into focus. In September, the #FED is expected to make a 25 basis point rate cut.
While this cut might lead to a short-term pullback in the markets, itâs likely to be followed by another upward trend. The developments weâve seen this year are critical steps that will shape the future of the crypto markets. #PowellAtJacksonHole
Wishing everyone plenty of gains đž.
