In light of the growing rumors about Powell's possible resignation, the cryptocurrency market is on the verge of a bullish resurgence. While the cryptocurrency market is currently experiencing a bearish pullback, speculation surrounding Powell's speech today has generated positive momentum. Cryptocurrency enthusiasts are eagerly awaiting Powell's words, and some are betting on a potential bullish trend in the event of a resignation.
At the time of this publication, the cryptocurrency market, valued at $3.91 trillion, has fallen by just 0.5%. Major cryptocurrencies such as Bitcoin, Ethereum, and XRP have seen slight rebounds of 0.14%, 0.61%, and 0.5%, respectively, in the last hour. Although Bitcoin, Ethereum, and XRP have recently declined, they have managed to register notable gains over the past week: Bitcoin rose by 1.39%, Ethereum by 24.2%, and XRP by 20.2%.
If the Federal Reserve Chair announces his official resignation in today's speech, the cryptocurrency market is gearing up for a bullish trend. It could repeat previous patterns where Bitcoin surged significantly following Trump's comments about Powell's firing.
