Bullish news for BTC and related stocks due to Powell's indication of interest rate cuts

From Nasdaq

August 27, 2024 09:53 am:

BTC’s recent rally was fueled by Federal Reserve Chair, Jerome Powell’s indication of impending interest rate cuts. This news is bullish for cryptocurrencies like BTC, pushing its price up 9.2% in the last week, currently trading around $64,000. Stocks like NVIDIA Corp., Coinbase Global, Inc., and Block, Inc. are set to benefit from this digital coin surge. Powell’s statements at the Jackson Hole Symposium and the Fed’s intention to trim interest rates soon have boosted BTC’s momentum, indicating a potential uptrend in the coming days.

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