#PowellRemarks

Federal Reserve Chair Jerome Powell's recent remarks have been making waves in the cryptocurrency market. On Binance, it's been reported that cryptocurrencies rallied after Powell hinted at possible interest rate cuts starting in September ¹. This news comes after Powell's previous comments comparing Bitcoin to gold, which sparked a surge in Bitcoin's price ².

However, Powell's stance on cryptocurrency regulation remains cautious. He emphasized the need for a regulatory framework that balances stability with risk mitigation ². The Federal Reserve Chair also clarified that Bitcoin is not a replacement for the US dollar, citing its price volatility ².

In other news, Powell recently made hawkish remarks, stating that the strong economy gives officials space to act cautiously ³. This has led to concerns about tighter monetary policy and inflation, resulting in $430 million in outflows from Bitcoin ⁴.