Bitcoin Price Rises as Fed Chairman Signals Rate Cuts
2024-08-24 18:21:59 /

 Federal Reserve Chairman Jerome Powell's announcement of rate cuts in the coming months has led to a rise in the price of Bitcoin, which briefly surpassed $62,000. Powell stated that the central bank is pleased with cooling inflation but is more attentive to growing weakness in the labor market. Ethereum and Solana also saw price increases of 2.7% and 2.1%, respectively. Traders are confident that the Fed will ease up in its inflation fight, with a 67% chance of a 0.25% rate cut in September according to CME Fedwatch. This is a developing story and will be updated with additional details.

Disclaimer: This specification is preliminary and is subject to change at any time without notice.

Recommended reading
Fed's Harker: We need to start cutting rates

08-24 18:21

Agency: Powell acknowledges Fed's growing concerns about job market

08-24 18:21

ECB's Kazaks: ECB forecasts assume two more rate cuts this year

08-23 14:40

Sony Group's joint project with Singapore's Startale Labs will launch a new 2-layer network

08-23 14:40

Data: 300,000 ETH were transferred to Coinbase 27 minutes ago, worth about $791 million

08-23 14:40

Sony Unveils Soneium, a User-Friendly Ethereum Layer-2 Blockchain with Optimism's OP Stack Technology

08-23 14:41

AscendEX will list EUROVEGAS COIN (EVC)

08-23 14:41

dappOS announces integration with Layer 1 blockchain Monad

08-23 14:41

Longsun Group and Ant Digits completed the first RWA of new energy physical assets in China, with an amount of approximately 100 million yuan

08-23 14:41

Trader Eugene: ETH price may be at a historical low, and it will be difficult to buy at a low price again if the market strengthens in the future

08-23 14:41

Floki: The second pre-sale will be cancelled and free airdrop tokens will be given to Champion users

08-23 14:40

Former Fed "Eagle King" Bullard: This year may cut interest rates by 75 basis points

08-23 07:14

MakerDAO: DAI and MKR will continue to be available, and upgrading to NewStable and NewGovToken is optional

08-23 07:14

Reserve purchased 6.45 million CRV through market maker GSR Markets in the past 6 days

08-23 07:14

A whale withdraws 39,816 SOL from Binance to buy 10 million POPCAT

08-23 07:14