US Fed officials consider more rate hikes despite debt ceiling crisis, potentially impacting BTC price. St. Louis President James Bullard suggests raising interest rates twice this year, while Minneapolis Fed President Neel Kashkari believes in raising rates over 6% to curb inflation. Smart money seems more inclined to invest in Ethereum over Bitcoin, indicating a possible shift in investor preferences.
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Crypto Market Reacts to Interest Rates, Fed Testimonies, and Global Economic Events
Crypto market sentiment turns cautious as BlackRock iShares Bitcoin ETF approval, Fed Chair Jerome Powell’s testimony, key central bank announcements, and inflation data releases affect Bitcoin and Ethereum prices. Investors urged to conduct thorough research in these fluctuating market conditions.
Crypto Market Cautious Ahead of Powell Speech: Impact on Bitcoin and Investor Sentiment
As the crypto market remains cautious, Bitcoin hovers below $27,000 amidst hawkish comments from central bank officials and anticipation of Jerome Powell’s upcoming speech. The market’s risk-averse sentiment may be influenced by Powell’s possible hawkish address.