On August 23, Bitcoin surprised the market by soaring over 6%, climbing from $60,700 to reach the $64,450 zone. This significant price spike came after Federal Reserve Chair Jerome Powell hinted at forthcoming interest rate cuts, signaling a shift in policy.
Powell's comments sparked a surge in Bitcoin inflows, particularly into Bitcoin ETFs, injecting bullish momentum into the market. With bulls gaining control, optimism began to dominate the market, raising expectations of further Bitcoin highs.
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