{"id":83359,"date":"2024-07-03T08:10:27","date_gmt":"2024-07-03T12:10:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83359"},"modified":"2024-07-03T08:10:30","modified_gmt":"2024-07-03T12:10:30","slug":"feds-powell-delivers-key-message-for-crypto-markets","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/feds-powell-delivers-key-message-for-crypto-markets\/","title":{"rendered":"Fed’s Powell Delivers Key Message for Crypto Markets"},"content":{"rendered":"\n

Fed Chair Jerome Powell delivered a pivotal message for crypto markets<\/a> during a panel with ECB President Christine Lagarde and Brazil's Central Bank Governor Roberto Campos Neto.<\/p>\n\n\n\n

\"Fed's
Fed's Powell Delivers Key Message for Crypto Markets<\/figcaption><\/figure>\n\n\n\n

Jerome Powell, the Chair of the Federal Reserve, issued a critical message that has substantial implications for the crypto market. Powell participated in a discussion with Christine Lagarde, the President of the European Central Bank, and Roberto Campos Neto, the Governor of the Central Bank<\/a> of Brazil.<\/p>\n\n\n\n

Powell stated that the Federal Reserve has made “some progress” in its ongoing battle against inflation. Nevertheless, Powell underscored the necessity of additional evidence of consistent progress prior to evaluating any potential interest rate reductions.<\/p>\n\n\n\n

As inflation appears to be slowing and other central banks, such as the ECB, begin to progressively lower interest rates, markets are closely monitoring the Fed's comments.<\/p>\n\n\n\n

Investors anticipated at least six quarter-point reductions in the Federal Reserve's interest rates earlier this year. Market pricing has been adjusted to account for two decreases, one occurring in September and the other occurring prior to the year's conclusion.<\/p>\n\n\n\n

The crypto markets, which are renowned for their susceptibility to macroeconomic indicators, have been particularly attentive to Powell's statements. In the past 24 hours, Bitcoin experienced a 3.36% decline, reaching $60,349. Numerous cryptocurrencies are also experiencing losses, with losses spanning from 2% to 13%. Sentiment appeared to deteriorate subsequent to Powell's economic commentary.<\/p>\n\n\n\n

Markets have somewhat diminished the likelihood of a rate reduction at the Federal Open Market Committee (FOMC)\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> meeting in September, which currently stands at approximately 65%.<\/p>\n\n\n\n

Glassnode predicts that a substantial number of short-term holders (STHs) will experience losses and trade below the 200-day moving average if Bitcoin price action breaks below $58,000 to $60,000 in the future.<\/p>\n\n\n\n

The current sideways pattern of market hesitancy is maintained by price activity between $60,000 and $64,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fed Chair Jerome Powell delivered a pivotal message for crypto markets during a panel with ECB President Christine Lagarde and Brazil’s Central Bank Governor Roberto Campos Neto. Jerome Powell, the Chair of the Federal Reserve, issued a critical message that has substantial implications for the crypto market. Powell participated in a discussion with Christine Lagarde, […]<\/p>\n","protected":false},"author":36,"featured_media":83363,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[2051,20362,602],"class_list":["post-83359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto-markets","tag-message","tag-powell"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/874F3616-61A6-4BE7-8178-4A8E2A0E1ADF.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83359"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83363"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}