{"id":7458,"date":"2022-08-26T18:08:47","date_gmt":"2022-08-26T18:08:47","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/26\/bitcoin-reacts-sharply-to-fed-chair-jerome-powells-speech\/"},"modified":"2022-08-26T18:08:47","modified_gmt":"2022-08-26T18:08:47","slug":"bitcoin-reacts-sharply-to-fed-chair-jerome-powells-speech","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/26\/bitcoin-reacts-sharply-to-fed-chair-jerome-powells-speech\/","title":{"rendered":"Bitcoin reacts sharply to Fed Chair Jerome Powell&#8217;s speech"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<ul>\n<li><em><strong>Bitcoin value fell sharply on Friday to break under $21,000 following remarks by Jerome Powell.<\/strong><\/em><\/li>\n<li><em><strong>The draw back adopted an analogous response on Wall Street, with S&amp;P 500 falling 2%.<\/strong><\/em><\/li>\n<li><strong><em>Powell mentioned in his Jackson Hole speech that the Fed would stay aggressive until the \u201cjob is done.\u201d<\/em><\/strong><\/li>\n<\/ul>\n<p dir=\"ltr\">Bitcoin (BTC\/USD) retreated under $21,000 on Friday afternoon, touching lows of round $20,700 on the time of writing.<\/p>\n<p dir=\"ltr\">The declines, which comply with US Federal Reserve Chair Jerome Powell\u2019s Jackson Hole speech, might see the cryptocurrency\u2019s value retest assist ranges at $20,000 or decrease.<\/p>\n<h2>Fed to maintain elevating charges<\/h2>\n<p dir=\"ltr\">The Jackson Hole symposium, which brings collectively central bankers, economists and different key policymakers, is an annual occasion that has typically include elevated market volatility round extremely anticipated commentary.<\/p>\n<p dir=\"ltr\">So, after Powell <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/speech\/powell20220826a.htm\" rel=\"noopener noreferrer\" target=\"_blank\">maintained<\/a> a hawkish stance, reiterating that the central financial institution will increase rates of interest \u201cuntil the job is done\u201d on inflation, each shares and cryptocurrencies \u2013 dangerous property \u2013 have dipped sharply.<\/p>\n<p dir=\"ltr\">The S&amp;P 500 is down 2%, the Nasdaq has shed practically 2.6% and the Dow Jones Industrial Average has declined greater than 500 factors, or -1.6%.<\/p>\n<p dir=\"ltr\">Bitcoin value is down practically 4% and appears susceptible to new losses to the primary assist degree at $20K, which analysts see as essential to bulls\u2019s quick time period plans.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-drops-below-21k-as-markets-react-to-powells-inflation-remarks\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value fell sharply on Friday to break under $21,000 following remarks by Jerome Powell. The draw back adopted an analogous response on Wall Street, with S&amp;P 500 falling 2%. Powell mentioned in his Jackson Hole speech that the Fed would stay aggressive until the \u201cjob is done.\u201d Bitcoin (BTC\/USD) retreated under $21,000 on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[20,1692,899,3913,3882,1087,1453,1822],"class_list":["post-7458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-chair","tag-fed","tag-jerome","tag-powells","tag-reacts","tag-sharply","tag-speech","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/7458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=7458"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/7458\/revisions"}],"predecessor-version":[{"id":7459,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/7458\/revisions\/7459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/7460"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=7458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=7458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags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