Federal Reserve Chair Powell's positive comments on crypto engagement by banks boost Bitcoin and Ethereum

From StockTwits: 2025-01-30 08:00:23

Federal Reserve Chair Jerome Powell’s comments on banks engaging with crypto and the SEC’s rollback of key restrictions have sparked optimism in the crypto market, despite retail investor doubts. Bitcoin (BTC) and Ethereum (ETH) saw gains after the Fed held interest rates steady. Bitcoin rose 2.6% to over $105,000, while Ethereum gained 2.8% to above $3,200. The SEC’s repeal of a regulation discouraging banks from offering crypto custody services could make it easier for financial institutions to engage with digital assets. Bitcoin also received support from a legislative proposal in Illinois to create a Bitcoin reserve. Retail sentiment on Stocktwits around BTC and ETH is currently neutral, with some investors cautious due to high interest rates and inflation concerns.



Read more at StockTwits: Bitcoin, Ethereum Gain As Powell Reaffirms Banks Can Engage with Crypto: Retail Still Feels Skiddish