The digital currency market is anticipating Jerome Powell, the Chairman of the Federal Reserve, to speak at the Federal Open Market Committee (FOMC) meeting. The crypto community predicts that Powell’s remarks on interest rate reduction could lead to the rise in Bitcoin and other digital currencies. Analysts believe that if Powell hints at looser monetary policy or interest rate cuts in the future, Bitcoin will surpass the $83,000 resistance level. With Bitcoin’s growth, altcoins are also expected to perform well. Recent market patterns indicate that if Powell’s speech is positive and aligns with expectations for expansionary monetary policies in the future, altcoins could experience further growth. Recent consumer price index data shows inflation is decreasing faster than expected, reinforcing the likelihood of a more favorable position by the Federal Reserve.
