Eyes on Powell’s Statements in Bitcoin! What Time Will He Speak? Expectations What?

bitcoin As the positive news from Brazil approached the $17,000 mark again, global markets focused on FED Chairman Jerome Powell’s speech.

The statements of Powell, who is expected to speak at an event hosted by the Brooking Institution, will be followed closely.

Considering the latest inflation data and the statements of FED members, it is considered that Powell can make positive statements to reduce the rate of increase in interest rates.

Before Powell’s speech, we see that Bitcoin is positively differentiated from the US stock markets.

While the global markets are focused on the conversation, the signals regarding the interest rate increase in December will be searched between the lines.

The risk appetite is expected to rise, while the probability that the FED, which has increased interest rates by 75 basis points in the last four meetings, will raise interest rates by 50 basis points in December.

According to CME data, when we look at the expectations for the interest rate hike in December, we see that the expectation for an increase of 50 basis points is 67%.

Although there were concerns that FTX’s domino effect would cause more damage to the cryptocurrency markets, we watched $ 16,000 hold well on the BTC side.

A rally that will occur in global markets with positive statements from Powell today may cause a relief rally in cryptocurrencies.

For now, all eyes will be on Powell’s statements. Powell will speak at 9:30 pm.

*Not Investment Advice.