Bauer’s talk about “a dove with an eagle”: After Bitcoin surged and fell back, it stood firm at $23,000

Federal Reserve (Fed) Chairman Jerome Powell said this morning that U.S. inflation has begun to slow, but it will be a long and bumpy process to completely curb inflation, and if stronger economic data is seen, interest rates will It is still possible to rise above market expectations. A hawk-dove criss-cross speech caused violent fluctuations in the U.S. stock market and the cryptocurrency market. After falling back after a surge, Bitcoin rose again and stood firm at $23,000.

Powell reiterated at an event hosted by the Economic Club of Washington (Economic Club of Washington, D.C.) in the early morning of this (8th) that higher interest rates and a longer period of time are still needed to fight inflation. Better-than-expected economic data may prompt the Federal Reserve to Continue to raise interest rates. He expects “inflation to come down sharply” this year, but may not fall closer to the 2 percent target until next year. Overall, Ball’s rhetoric hasn’t changed much from last week.

Bitcoin rose as high as $23,610 during Powell’s talk, before quickly narrowing its rally to as low as $22,785, but has now resumed its rally at $23,310, up over the past 24 hours as the uncertainty comes to an end 2%.

Analysts at MICA Research, a cryptocurrency research team, pointed out that investors believe that inflationary pressures have been eliminated, and the Fed’s terminal interest rate is likely to fall at around 5%.

As for whether the inflationary pressure disappears? Analysts took a more conservative view, saying:

At present, there are still too many variables in the price index. If it is easy to believe that the inflationary pressure has disappeared, the next price index is likely to surprise the market. Currently, many economic signals are complicated, and it is difficult to judge the follow-up trend of the market.