Bitcoin Reclaims $85K Following Fed and Stocks Rose, but One Analyst Suggests Caution
Gold continues to be the star of the cycle, jumping to a new record above $3,050 per ounce.
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Jerome Powell
Gold continues to be the star of the cycle, jumping to a new record above $3,050 per ounce.
The U.S. central bank continues to expect the fed funds rate to end 2025 at 3.9%, or roughly two rate cuts by year-end.
A December rate cut from the U.S. central bank might not be as sure of a thing as previously thought.
Fed Chair Jerome Powell’s speech later today could shake up markets as he will face questions about the central bank’s outlook on monetary policy and inflation after Donald Trump’s decisive win of the U.S. presidential election.
Bitcoin price on 09 30 (CoinDesk)
Bitcoin is back to levels not seen in nearly two months as it pushed past the $65,000 mark during U.S. late morning hours on Thursday.
Some traders expect market movements nearer to Friday when Federal Reserve chair Jerome Powell is scheduled to speak at the Jackson Hole symposium.
Jerome Powell made clear that central bank policymakers are focused on downside risks to the economy as much as they are inflation.
The downtrend in inflation has stalled so far this year, putting in doubt the odds for any Fed rate cuts in 2024.