Bitcoin pullback Market focuses on Powell's speech for Fed's September policy direction

Analyst Ryan Rabaglia from Bitpush stated that due to the pullback of Bitcoin in the past few days, everyone will be following Fed Chairman Powell's speech on Friday, August 22, to look for policy direction from Central Bank officials in the September meeting.

Rise Capital venture capital fund general partner Ryan Rabaglia stated: As some mainstream coins reach historical highs or approach highs, there has been a substantial amount of profit-taking. There is an important event this week - the Jackson Hole Summit, which will attract everyone's attention. In previous summits, we have seen the Fed chairman take decisive action, even clearly hinting at interest rate hikes or cuts, and this time he is also expected to clearly take a side. This summit will serve as a prelude to the actions in September, and the market currently generally expects a 25 basis point rate cut.

Analyst Bruni stated that if this week's comments indicate that there will be no interest rate cut in September, Bitcoin may continue to be under pressure, and traders will follow the 200-day moving average close to $100,000 as the next important support level.

BTC0.54%
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GateUser-9ad11037vip
· 08-21 18:47
Everything depends on what Dad Bao says.
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GasWastervip
· 08-20 19:34
lmao another week of waiting for powell to destroy my eth bags... fml
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GateUser-e87b21eevip
· 08-20 02:36
It's too hard to guess, let's close all positions first.
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ForkMongervip
· 08-19 05:19
lmao powell's just another puppet in this governance circus
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BearMarketBuyervip
· 08-19 05:18
What does Powell have to do with it? Just have more big dumps!
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ruggedNotShruggedvip
· 08-19 05:18
It can still rise, waiting for the pump.
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BrokeBeansvip
· 08-19 05:08
Eat according to Powell's mood.
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CryptoHistoryClassvip
· 08-19 05:07
*checks notes* classic pre-fomc dump, same as dec '18
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Betterforevervip
· 08-19 05:06
Analyst Ryan Rabaglia from 【比推】 stated that due to the pullback of Bitcoin in the past few days, everyone will be following Fed Chairman Powell's speech on Friday, August 22, to look for signs of policy direction from Central Bank officials at the September meeting.
Ryan Rabaglia, a general partner at Rise Capital venture capital fund, mentioned that as some mainstream tokens reached or approached historical highs, there has been a significant amount of profit pullback. There is an important event this week—the Jackson Hole Summit, and all eyes will be on it. In previous summits, we have seen the Fed Chairman take decisive action, even explicitly hinting at interest rate hikes or cuts, and this time he is also expected to clearly take a side. This summit will serve as a prelude to the actions in September, and the market is currently widely anticipating a 25 basis point rate cut.
Analyst Brun
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