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BitcoinSistemi 2025-02-10 11:30:10

FED Chairman Jerome Powell Will Speak for Two Days in a Row! What Will It Affect Bitcoin (BTC)? Here Are the Expectations and What You Need to Know!

As Bitcoin and altcoins continue to struggle with declines, another critical week has begun, as Fed Chair Jerome Powell will present on six-month monetary policy to the House Financial Services Committee and the Senate Banking Committee on Tuesday, February 11 and Wednesday, February 12. Apart from Powell's critical statements, January CPI data will be released in the US on Wednesday, February 12, and PPI data will be released on Thursday, February 13. On that point, Fed Chair Powell will testify before the Senate Banking Committee at 10:00 AM EST on Tuesday and before the House Financial Services panel the following day. What Is Powell Expected to Say? As expectations rise that Fed Chair Jerome Powell’s speech could trigger a change of direction in Bitcoin, potentially sending it revisiting $100,000 and ending its six-day consolidation, it’s also interesting to see what Powell will say. Analysts predicted that the Bitcoin price is unlikely to reach $100,000 due to Powell's speech and many other reasons. Market analysts expect the Fed chairman to likely state that the economy is resilient, emphasizing the Fed's dual mandate of maintaining price stability and ensuring maximum employment. Powell is also expected to state that they will continue their data-driven approach to reducing inflation. At this point, analysts think that Powell's speech will not have a major impact on the price of BTC, apart from short-term volatility in Bitcoin. Speaking to Bloomberg, SGH Macro Advisors chief economist Tim Duy said Fed members agreed that interest rates would not be cut until the second half of 2025, but the outlook for interest rates could change quickly if January employment data comes in below expectations. Stating that weaker employment data will bring interest rate cuts back to the agenda, Duy said that this situation could bring an increase for risky assets such as Bitcoin. Will the FED Chairman's Statements Bring a Rise in Bitcoin? Bloomberg economists also explained what is needed for an increase in Bitcoin and cryptocurrency prices after Powell's statements. “Chairman Powell said the Fed would need to see real progress in inflation or some weakness in the labor market before it would consider cutting interest rates. “If Powell acknowledges progress in his testimony tomorrow and the day after, and hints at a rate cut before June 2025, then that could trigger risk-taking behavior and push Bitcoin prices even higher.” *This is not investment advice. Continue Reading: FED Chairman Jerome Powell Will Speak for Two Days in a Row! What Will It Affect Bitcoin (BTC)? Here Are the Expectations and What You Need to Know!

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