🚨Investors brace for Powell speech as $BTC dips near $112K🚨
💰 Bitcoin 📉 has dropped below $113K, touching a two-week low of $112,565 as market nerves heighten ahead of Jerome Powell’s speech at the Jackson Hole gathering. Traders are closely watching for hints on the US Federal Reserve’s interest rate policies that could impact Bitcoin’s price.
🔮 Market Fears: The speech could signal the Fed's stance on interest rate cuts, with some speculating it could spark another round of rate reductions, which historically boosts Bitcoin’s rally. If $112K holds as support, analysts predict the next phase of Bitcoin's bull run could be on the horizon. 📈
💡 Rate Cuts and Inflation: Inflation data released earlier shows consumer prices rose 2.7% YoY, keeping pressure on the Fed to act. The possibility of interest rate cuts slipped by 12% to 82% on the CME Group’s FedWatch tool, down from 94% a week ago.
🏢 Corporate Accumulation: Despite market fluctuations, corporations continue to hoard Bitcoin. As of now, 297 entities (including public firms, ETFs, and governments) hold over 3.67M BTC, about 17% of total supply.
🌍 The Bigger Picture: The next Fed meeting could prove pivotal for Bitcoin's future—a rate cut could fuel more market growth and spark a rally. Keep an eye on the Fed’s actions as corporate Bitcoin adoption continues to rise! 🔥🚀
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