Bitcoin experienced a significant surge following Jerome Powell’s speech at the Jackson Hole Economic Symposium, with the asset rising 5% in just minutes. The cryptocurrency market as a whole reacted strongly to the hints of potential interest rate cuts, mirroring Bitcoin’s move. Key takeaways from Powell’s address focused on labor markets and potential rate reductions. These comments have historically impacted cryptocurrencies due to their sensitivity to Federal Reserve policies. Powell’s speech at the Jackson Hole symposium sparked considerable movement in the cryptocurrency market. His remarks, interpreted as dovish, led to a noticeable increase in Bitcoin and other altcoins, highlighting the crypto world’s reliance on Fed policy signals.