Powell’s Silence Sparks Bitcoin Surge as Investors Hope for Rate Cuts

Federal Reserve Chair Jerome Powell’s recent speech at Stanford University, where he opted not to discuss monetary policy, has sparked speculation in the market. This decision, which aligns with the Fed’s pre-meeting “quiet period,” coincided with the release of weak manufacturing data from the US, intensifying expectations for a 25 basis point rate cut at their December meeting. Bitcoin reacted positively to Powell’s silence, surging above $87,000 in the process as investors anticipate potential policy easing.