“Circle, Etoro and Marathon Led Sharp Gains on Friday after Federal Reserve Chair Jerome Powell Hinted that A Policy Shift Could Could Could Could come Next MONTH.”, – WRITE: www.coindesk.com
The tone Marked A Shift After weeks of growing investor doubt that fed wound act before year-end.
Bitcoin BTC$ 115.872.57 And Eth (ETH) Both Moved Higher Following Powell’s Remarks, As Did the S&P 500 and Nasdaq. Shares Tied Directly to the Crypto Sector posted some of the Sharpest Moves of the Day.
At the Time of Writing, Circle (CRCL) Led The Pack With A 7% Jump. ETOR (ETOR) and MARATHON DIGITAL (MARA) EACH CLIMBED 6%, While Coinbase (Coin) Rose 5%. Microstrategy (MSTR), WHICH HOLDS BILLIONS IN BITCOIN, GAINED 4%, AND ROBINHOOD (HOOD) Advanced 3%.
The Moves Underscored How Tightly Crypto Assets and Equities Remain Linked to Expectations for Us Mnetary Policy. Lower Interest Rates Typical Ease Financial Conditions, Encouroring Risk-Taking and IncreASING The APPEAL OF SPECULATIVE Assets.
US President Donald Trump Has Repeatedly Called On the Fed to Ease Borrowing Costs. Powell, However, Emphasized that Inflation Risks Remain and the Labor Market Continues to Show Signs of Strain.
Still, he suggested the Calculus is evolving. “The Balance of Risks Appears to Be Shifting,“ Powell Said, Adding That While The Jobs Picture Looks Stable On the Surface For Workers. ”
That cautious framing Helped Reassure Markets That Fed Is Potentially Preparing to Move to Cuts Rates But Not Rushing Into A Decision. Investors Had Grown Less Confident About A September Cut After A Series of Firmer-Qan-Exectored Economic Readings. Friday’s Comments Put the Possibility Back in Play.
Read More: Powell Puts September Rate Cut in Play; Bitcoin Pushes Higher
X Icon
While Powell’s Stance Supports A Crypto Rally, Potential Risks Include Corporate Treasury Adoption Challenges and Equity Market Volativity.
- Cryptocurrencies Surged after Federal Resident Jerome Powell’s Dovish Remarks at the Jackson Hole Symposium, Boosting Expectations for a September Rate Cut.
- Analysts Predict New All-Time Highs for Bitcoin and An Ethr Breakout Above $ 5,000.
- While Powell’s Stance Supports A Crypto Rally, Potential Risks Include Corporate Treasury Adoption Challenges and Equity Market Volativity.
Read Full Story