According to Odaily Planet Daily, Matrixport released a chart saying that Federal Reserve Chairman Powell hinted at a possible interest rate cut, coupled with the positive momentum of the US presidential election, which may create a favorable environment for Bitcoin.
Surprisingly, traders appeared cautious and hesitant to increase risk exposure ahead of next week's U.S. jobs data.
While recession fears could lead to more monetary stimulus, historical data shows this is generally bullish for Bitcoin, but the next 2-3 weeks will be critical.
Key events include the U.S. jobs report, the presidential debate between Harris and Trump, and the FOMC interest rate decision.
