TechFlow, August 21 — According to analysis by BiyaPay analysts, Federal Reserve Chair Powell will deliver his final speech at the Jackson Hole symposium this Friday evening Beijing time. Although the latest inflation data exceeded expectations, causing some traders to scale back rate cut expectations, markets still anticipate a Fed rate cut in September. Ian Lyngen, analyst at BMO Capital Markets, said Powell could pose risks to market expectations for rate cuts, especially bets on a 50 basis point reduction.
Historical data shows no consistent Bitcoin price pattern in the month following Powell’s past seven Jackson Hole speeches. However, rate-cutting cycles have often led to gains. In 2016, 2019, and 2020, Bitcoin rose more than 15%, 20%, and 50% respectively. Particularly within the current easing cycle, Bitcoin may continue to benefit, attracting further capital inflows.
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