Bitcoin Charges Back to $116,000 After Powell Hints at Rate Cut
Bitcoin surged to roughly $116,000 after Federal Reserve Chair Jerome Powell delivered a speech at the Jackson Hole symposium that markets read as unexpectedly dovish. The move reversed a slide that had pushed BTC to six‑week lows earlier in the session and triggered a rapid pickup in risk assets while the U.S. dollar weakened.
Price feeds showed BTC/USD recovering from local lows near $111,658, with the pair climbing more than 2–3% within minutes of Powell’s comments. Traders credited the sharp rebound to renewed expectations that the Fed may ease policy, potentially setting the stage for a rate cut at the September meeting.
Market commentators and on‑chain observers noted that the dip had cleared some leveraged positions and taken out liquidity, which in turn left room for a strong bounce. Several popular traders pointed to technical signals — including oversold RSI readings on short‑ and mid‑term charts — lining up with the news to support the rally.
Analysts and market tools tracking Fed probabilities were quick to update forecasts after the speech, with many market participants pricing in a 25‑basis‑point cut as a plausible outcome for the next FOMC decision. That shift in expectations helped lift not only cryptocurrencies but also other risk assets.
While analysts highlighted the constructive price action, the story remains one of heightened volatility: commentators warned that Bitcoin could continue to swing sharply as traders respond to Fed messaging and macroeconomic data. As always, this summary is informational and not investment advice — market moves carry risk, and participants should perform their own research before trading.
