The Fed’s attempts to reel inflation in by increasing interest rates are usually associated with a pullback of investment activity across markets.
Bitcoin has not seen a full-blown recession since it was launched as a response to the 2008 global financial crisis.
Testimony from the Fed Chair provides no surprises while risk assets meander on the Wall Street open.
In a 80–19 vote in the Senate, U.S. lawmakers confirmed Jerome Powell as the next chair of the Federal Reserve System, where he will also serve as a board member until 2028.
But the token still risks falling by more than 30% based on a classic bearish continuation setup.