Reserve

Jerome Powell

Chair

Bitcoin

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/bitcoin-hovers-below-26000-await-powells-speech-at-jackson-hole/">Bitcoin Hovers Below $26,000, Await Powell’s Speech at Jackson Hole</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin’s price has struggled to surpass the $26,000 mark after breaching a crucial support level, accompanied by reports from On-Chain and Santiments signaling a potentially bearish trend. </p> 
<p>Crypto assets have recently been consolidating in a volatile market, with all eyes on the upcoming speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium.</p> 
<h2 id="why-the-buzz-around-jackson-hole" data-name="why-the-buzz-around-jackson-hole" class="wp-block-heading">Why the Buzz Around Jackson Hole?</h2> 
<p>The annual Jackson Hole Economic Policy Symposium, scheduled from tonight until August 26, 2023, has captured attention due to its relevance amidst global economic transformations and the ongoing process of de-dollarization. </p> 
<p>Framed around the theme of “Structural Shifts in the Global Economy,” the event delves into the repercussions of events such as the Russian invasion of Ukraine and the potential BRICS Group movement away from the US Dollar.</p> 
<h2 id="jerome-powells-speech-the-deciding-factor" data-name="jerome-powells-speech-the-deciding-factor" class="wp-block-heading">Jerome Powell’s Speech: The Deciding Factor</h2> 
<p>Market focus remains keenly on Jerome Powell, the US Federal Reserve Chair, set to deliver his speech on August 25. As uncertainty shrouds the US economic outlook, Powell’s insights into inflation targets, the Fed’s approach, and interest rate decisions carry immense significance. The cryptocurrency market, having faced sluggish momentum, anticipates Powell’s speech to potentially infuse renewed vigor.</p> 
<h2 id="btcs-current-price" data-name="btcs-current-price" class="wp-block-heading">BTC’s Current Price</h2> 
<p>Bitcoin currently hovers around $25,870.08, with a relative strength index (RSI) of approximately 20.00, signaling bearish sentiment. Nevertheless, the recent stabilization suggests a positive outlook for long-term bullish trends. The impending Jackson Hole Symposium is poised to inject much-needed excitement into a market that has experienced a lull in recent times.</p>

Bitcoin Hovers Below $26,000, Await Powell’s Speech at Jackson Hole

Table of Contents

CoinPedia News

Other articles published on Aug 24, 2023

Vessel Capital Launches $55M Venture Fund for Web3 Infrastructure and Apps

Vessel Capital secures $55M to invest in Web3 infrastructure: Report

Fastex is heading to the SiGMA Balkans Summit 2023 in Limassol, Cyprus - a hotspot for the CIS co...

Shibarium Mainnet Relaunched: BONE Price Surges 14%

Nothing Unveils OS 2.0 for Blockchain Phone, Launches Next Week

Solana Pay integration with Shopify could spark instant Crypto payments trend

Join our free newsletter for daily crypto updates!