Powell’s Speech Sparks Crypto Rally: Markets Surge Ahead of Potential Interest Rate Cut

Following a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium, cryptocurrency markets experienced significant gains. Notably, Bitcoin (BTC) and Ethereum (ETH) rallied to new highs, with analysts anticipating further price increases due to Powell’s dovish stance on interest rates. The potential for rate cuts in September has increased investor confidence in both cryptocurrencies and broader financial markets. This bullish sentiment is expected to persist in the near term, according to market experts.