Derived from Blockbeats, on September 24, Federal Reserve Chair Jerome Powell stated that current interest rates remain 'moderately restrictive,' suggesting further policy easing could occur if labor market weakness persists. His remarks were interpreted as 'cautiously dovish,' affecting the dollar index and Treasury yields, while boosting risk appetite. Bitcoin (BTC) is trading around $112,000, with key support at $111,000 and $108,000, and resistance at $119,000 and $120,000. Bitunix analysts advise a short-term range-bound strategy, emphasizing the need to monitor employment and inflation data for market direction.
Fed's Powell Signals Potential Further Rate Cuts, Crypto Market Reacts
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