Crypto Rallies After Powell Hints at Rate Cuts, Bitcoin Reaches New High

The global cryptocurrency market experienced a significant surge following comments from Federal Reserve Chair Jerome Powell during his Jackson Hole address. Powell hinted at potential interest rate cuts, which sparked renewed bullish sentiment in the digital asset space. This rally was fueled by rising demand for both Bitcoin (BTC) and Ethereum (ETH). Nearly $770 million worth of long and short positions were liquidated in the past 24 hours, with bears facing significant losses. 📈