🚀 Bitcoin Shoots Higher After Powell Hints at Rate Cuts 💰🔥
At the Jackson Hole gathering, Jerome Powell, the outgoing Fed Chair, dropped a big hint that interest rate cuts could be on the table as early as September. While he didn’t lock in details, he admitted the US economy is slowing down more than expected just a month ago.
Even though unemployment ticked up to 4.2% in July, Powell pointed out it’s still historically low and has stayed fairly steady over the past year.
Markets locked onto his signal — and Bitcoin wasted no time reacting. The price jumped from just under $112,000 before his speech to nearly $116,000 right after, sparking a wave of liquidations across Bitcoin and other altcoins. 🌊📈
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