The value of Bitcoin has risen significantly as Federal Reserve Chairman Powell hinted at the possibility of interest rate cuts in September. During a long-awaited speech in Jackson Hole, outgoing Federal Reserve Chairman Jerome Powell hinted at the likelihood of reducing interest rates before the end of the year, without going into further details. Powell, whose term is nearing its end, pointed to a notable slowdown in the U.S. economy, greater than last month's estimates. Despite the unemployment rate rising to 4.2% in July, he noted that this figure remains historically low and has been stable over the past year. One of the key aspects that caught the attention of financial markets was Powell's hint at the possibility of interest rate cuts at the upcoming Federal Open Market Committee meeting in September. The price of Bitcoin responded immediately to his speech, rising from less than $112,000 before his address to nearly $116,000 afterward, leading to a sharp increase in Bitcoin liquidations and many alternative currencies.
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