The FOMC meeting minutes and Powell's speech at the Jackson Hole Symposium triggered a rebound in market sentiment. The Fed released positive signals on rate cuts, which became the main reason for the sudden rise in Bitcoin prices.
This week, dovish remarks from several Fed officials confirmed that the Fed will begin to cut interest rates, stimulating investors' cautious buying expectations, and the rate cuts may be implemented from September. Although Powell did not specify the timing and magnitude of the rate cuts, he said that it was timely to adjust monetary policy against the backdrop of slowing inflation and a weak labor market, and the specific timing and speed of the rate cuts would depend on future data and economic prospects.
