Bitcoin briefly dipped 1.5% to $83,700 on Wednesday amid remarks from Federal Reserve Chair Jerome Powell at the Economic Club of Chicago, reflecting broader market jitters. The cryptocurrency later pared losses, stabilizing near $83,800—down 0.5% over the past 24 hours. Equities mirrored the volatility, with the S&P 500 sliding 2% during midday trading before clawing back some losses. The price swings followed Powell’s cautious tone on persistent inflation risks, potential tariff impacts, and the Fed’s restrained policy outlook.

Bitcoin's long-term trajectory remains intact, continuing its pattern of higher highs and higher lows while sustaining critical support from its multi-year trendline. The Relative Strength Index (RSI) recently revisited levels associated with the Q3 2023 and August 2024 market bottoms, which historically marked cyclical lows. Given Bitcoin’s robust performance in recent weeks, coupled with these technical signals, it appears increasingly likely that the asset has solidified its bottom and is poised for upward momentum.$BTC #PowellRemarks