Powell Doping in Bitcoin! Analysts Evaluated BTC and Ethereum After the FED Decision and Explained Their Expectations!

Yesterday Fed It announced its interest rate decision for March and left interest rates constant in line with expectations.

Speaking after the interest rate decision Fed Chairman Jerome PowellHe was expected to make a hawkish speech regarding inflation figures that came above expectations, but Powell had a dovish approach.

Powell’s dovish stance Bitcoin It had a positive impact on cryptocurrencies and there was an increase.

FED’s decision and Powell’s speech BTC And cryptocurrencies assessing its impact on QCP Capital analysts said this rise appears to be spot-focused.

Moreover to Ethereum Analysts stated that the downward fear towards the market has decreased and that they expect this to have a positive impact on the ETH price and included the following statements in the report:

The FOMC was clearly dovish and bullish:

At this point, FED President Jerome Powell was not concerned about the high inflation figures in January and February in his speech and even underlined the weakness in the labor market.

Additionally, more FOMC members shifted their rate cut forecasts to 3 cuts in 2024.

There was a huge reaction in Bitcoin and crypto in response to Powell’s dovish statements, with a complete reversal of BTC above $67,000 and ETH above $3,500.

Demand appears largely spot driven, with little change in funding rates.

Downside fears for ETH have diminished despite news that the SEC is classifying ETH as a security.”

At this point, analysts hinted that the rise from current levels to new all-time highs will continue smoothly. Because in the report they published yesterday, analysts Bitcoin and stated that the bull is not over in crypto and that they expect a new ATH after the halving.

*This is not investment advice.