Bitcoin (BTC) Price Surpasses $62,000 as Fed's Powell Suggests Rate Cuts in Jackson Hole Speech

08/23/2024 21:20
Bitcoin (BTC) Price Surpasses $62,000 as Fed's Powell Suggests Rate Cuts in Jackson Hole Speech

Bitcoin’s price surged above $62,000 following Fed Chair Jerome Powell’s hint at interest rate cuts during his Jackson Hole speech.

Bitcoin’s (BTC) price rose above $62,000 after Fed Chair Jerome Powell hinted at interest rate cuts on Friday. The chair mentioned this in his Jackson Hole Speech, leading the coin to jump in less than an hour.

But will Bitcoin continue to climb? This on-chain analysis reveals the possibility. 

This is a developing story…

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Victor Olanrewaju is a technical and on-chain analyst at BeInCrypto, where he monitors the activities of mid- and large-scale investors, commonly known as crypto whales, to detect investment trends across diverse cryptocurrencies, including Bitcoin, altcoins such as Solana, XRP, Cardano, and Toncoin, as well as meme coins like Dogecoin, Shiba Inu, and Pepe. Additionally, he covers emerging trends including Tap-to-Earn games, AI tokens, and real-world assets (RWA). Before joining BeInCrypto,...

Victor Olanrewaju is a technical and on-chain analyst at BeInCrypto, where he monitors the activities of mid- and large-scale investors, commonly known as crypto whales, to detect investment trends across diverse cryptocurrencies, including Bitcoin, altcoins such as Solana, XRP, Cardano, and Toncoin, as well as meme coins like Dogecoin, Shiba Inu, and Pepe. Additionally, he covers emerging trends including Tap-to-Earn games, AI tokens, and real-world assets (RWA). Before joining BeInCrypto,...

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