Bitcoin's price surged to $64,151.81, marking a 5.47% increase in just 24 hours. This spike followed Federal Reserve Chair Jerome Powell's speech at Jackson Hole, where he hinted at potential interest rate cuts in September.
Powell's remarks ignited optimism among U.S. investors, driving high demand for Bitcoin. Although he did not provide specific details, the mere prospect of rate cuts was enough to fuel the cryptocurrency's upward momentum.
This development highlights the sensitivity of cryptocurrency markets to macroeconomic indicators and speeches by influential figures like Jerome Powell.
