Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-approaches-critical-price-levels/" data-wpel-link="internal">Bitcoin Approaches Critical Price Levels</a> 
<a href="https://en.coin-turk.com/pentoshi-bitcoin-btc-will-be-40000-but-there-is-a-problem-for-crypto/" data-wpel-link="internal">BTC</a> price remains above $60,000 despite a slight drop after the US market opened. Interestingly, this drop occurred while Fed members made highly optimistic statements about the markets. Interest rates will decrease, and members are making dovish statements about starting this in September. 
<h2 style="text-align: justify" id="fed-statements">Fed Statements</h2> 
We shared the statements made by Colins. For a few days now, we have mentioned that members might be making preparatory remarks before Powell’s speech at the Jackson Hole Symposium on Friday (tomorrow). Looking at the statements made so far, we see that members are starting to give strong signals of a dovish stance. 
The US S&amp;P PMI Report also arrived while preparing this article, and its summary is as follows: 
<blockquote> 
 “Employment fell in August, declining for the first time in three months. Net employment losses were reported in three of the last five months, marking the weakest period of payroll growth since the first half of 2020.” 
</blockquote> 
Fed member Harker continued his statements while preparing this article, and the key points of his speech so far are: 
<ul style="text-align: justify"> 
 <li>Business contacts support a foreseeable easing pace.</li> 
 <li>The end of the expansion cycle may keep the fund rate around 3%.</li> 
 <li>Our current monetary policy is in a good place, not overly restrictive.</li> 
 <li>I want interest rate cuts to be gradual and methodical.</li> 
 <li>I am ready to start the interest rate cut process.</li> 
 <li>Fed’s interest rate cuts will ease the pressure on the housing sector.</li> 
 <li>Inflation is decreasing, but reaching 2% will take time.</li> 
 <li>Markets have already started pricing in the Fed’s steps.</li> 
 <li>The end of balance sheet reduction was determined by the market. It is not the main source of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial stability</a> concerns.</li> 
 <li>The employment market has largely normalized.</li> 
</ul> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382356 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-22_16-53-53.png" alt="" width="1815" height="836"> 
Fitch Ratings stated in its latest assessment, “The Fed, ECB, and BoE’s monetary tightening increases the risk of reserve scarcity.” 
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Bitcoin Approaches Critical Price Levels

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