Bitcoin and Ether Rise. Crypto Traders Find Optimism in Powell’s Testimony. - Aliens: AI Crypto News & Markets Updates

Bitcoin and Ether Rise. Crypto Traders Find Optimism in Powell’s Testimony.

Thu, Jun 23, 2022

Aliens TLDR

Bitcoin and other cryptocurrencies rose Thursday as investors absorbed testimony from Federal Reserve Chairman Jerome Powell that a U.S. recession was a possibility.

While Powell did tell U.S. lawmakers that the Fed was “strongly committed to bringing inflation back down,” he also provided some hope to investors by adding that it was possible there could be a slower pace of interest rate hikes, but only when there is evidence of a slowdown in growth and inflation.

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