Summary
- Reported that the Bitcoin price temporarily recovered to the $116,000 level.
- Fed Chair Jerome Powell indicated a cautious adjustment in policy direction based on evaluations of employment and inflation.
- Although the market initially anticipated a hawkish stance, Powell's remarks were interpreted as a dovish signal, leading to a rise in Bitcoin.
Bitcoin (BTC) briefly recovered to the $116,000 mark.
As of 23:40 on the 22nd in the Binance USDT market, Bitcoin is trading at $116,065, up 2.55% from the previous day.
Earlier, Fed Chair Jerome Powell assessed the state of employment and inflation in his Jackson Hole speech, suggesting a cautious adjustment in policy direction. Powell remarked, "The labor market remains close to maximum employment, and although inflation is still somewhat elevated, it has come down significantly from its pandemic peak."
The market had expected a hawkish tone from Powell, but interpreted his remarks as a dovish signal, leading to a rise.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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