Биткоин преодолел $117 000 на фоне оптимизма после слов главы ФРС Translation: Bitcoin Surpasses $117,000 Amid Optimism Following Fed Chairs Remarks

The cryptocurrency market reacted positively to the speech of the Federal Reserve Chairman Jerome Powell, who hinted at the possibility of lowering the key interest rate in September.

During his address at the Jackson Hole conference, Powell highlighted weak labor market data and an economic slowdown. He noted that the tightening of immigration policies has negatively impacted employment and economic activity.

According to him, the price increases driven by elevated tariffs will have a short-term effect, and the Fed is prepared to respond to any long-lasting repercussions if they arise.

However, he emphasized that a deterioration in the labor market could adversely affect price stability, necessitating adjustments to monetary policy.

Following his remarks, the proportion of investors anticipating a rate cut surged to 89% from 69%.

In reaction to this, the price of the leading cryptocurrency rose from around $112,400 to over $117,000, marking a 3.4% increase over the day.

Major altcoins displayed an even stronger response than Bitcoin. The price of Ethereum surpassed $4,600 compared to approximately $4,300 before Powell’s speech, with a 24-hour gain of 9.4%.

Dogecoin’s price reached $0.23 (up 7%), Solana climbed to $193 (5.3%), while XRP increased to $3.03 (5%).

The total market capitalization of cryptocurrencies grew by 4.6%, exceeding $4.07 trillion.

Traditional financial instruments also reflected positive sentiment following Powell’s speech, with the S&P 500 index gaining nearly 1.6% at the market open. Gold prices briefly hit $3,378.

It is worth noting that Bitcoin began its recovery after a drop to around $112,000 even before Powell’s address.