After a Bitcoin Pullback, Market Awaits Fed's Powell Speech This Friday
BlockBeats News, August 19th, according to Forbes, analyst Ryan Rabaglia stated that due to Bitcoin's recent pullback, "everyone" will be watching Federal Reserve Chairman Powell's speech on Friday, August 22nd, to look for clues about the central bank officials' policy direction at the September meeting.
Ryan Rabaglia, General Partner at Rise Capital Venture Capital Fund, said: "With some mainstream coins hitting or approaching all-time highs, there has been a significant profit-taking. There is a key event this week—the Jackson Hole Summit—and all eyes will be on it. In past summits, we have seen the Fed Chairman take decisive action, even hinting explicitly at a rate hike or cut, and this time he is also expected to clearly indicate a stance. This summit will set the stage for action in September, with the market currently generally expecting a 25 basis point rate cut."
Analyst Bruni stated, "If comments this week suggest that there will be no rate cut in September, Bitcoin may continue to be under pressure, and traders will focus on the 200-day moving average approaching $100,000 as the next key support level."
You may also like

NVIDIA's Jensen Huang's new article: The "Five-Layer Cake" of AI

In-depth Analysis of ERC-8183: The Answer to the Trust Issue of Ethereum-Powered AI Agents

Stock Tokenization Revolution: Market Dynamics, Product Architecture, and Regulatory Moat Panorama Report

The current Lobster Skill is just yesterday's Fruit Ninja, only meant to get you acquainted.

Key Market Intelligence on March 10th, how much did you miss out on?

IOSG: From Interest-Bearing Stablecoins to Crypto Credit Products

NVIDIA CEO Jensen Huang's Latest Article: The "Five Layers of AI"

Daily Observation of Cryptocurrency Concept Stocks: Nasdaq Bets on Stocks on the Blockchain, Strategy Buys Another 17,994 BTC, ETH Treasury Stocks Enter Production Period

One-click onboarding to RootData, allowing project information to be accurately presented on over 200 platforms including Binance Wallet, Gate, TP, and more

To the Builders who are still persevering in the crypto industry

Oil Price Cools Off, Crypto Bounces Back

a16z Releases Top 100 AI Applications List, Models Are Moving Out of the Browser and App

If you only follow the news, you may have misconstrued this Iran conflict

ERC-8183: Write a Rule for a $3M On-Chain Agent Business

AI Mistakenly 'Tips' $260,000, Makes It All Back in 24 Hours

Arthur Hayes: Why is HYPE a 5x Moonshot?

OpenClaw Money-Saving Strategy: Saving Two Thousand a Month - What Am I Doing Right?
