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Critical Wait in Bitcoin! FED Chairman Jerome Powell Will Speak Today! What Are the Expectations?

Bitcoin started the week with a decline, falling to $64,000 after reaching $66,000 last week. Investors are now focusing on two major macroeconomic events: Fed Chair Jerome Powell's speech and the US nonfarm payrolls data. The possibility of another interest rate cut by the Fed in November may become clear after these events. Experts believe that Powell's comments on inflation and interest rates could greatly impact market sentiment. A hawkish tone could further contribute to the decline in cryptocurrencies, while a moderate tone and stronger-than-expected employment data could benefit assets like Bitcoin and Ethereum. However, some believe that Powell is unlikely to make any market-moving announcements. The cryptocurrency market is expected to remain in an uptrend in the near term.

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