{"id":66363,"date":"2022-08-26T18:06:36","date_gmt":"2022-08-26T15:06:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66363"},"modified":"2025-09-07T00:55:07","modified_gmt":"2025-09-06T21:55:07","slug":"bitcoin-falls-below-21000-after-powell-remarks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-falls-below-21000-after-powell-remarks\/","title":{"rendered":"Bitcoin falls below $21,000 after Powell remarks"},"content":{"rendered":"<p><span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">The Fed<\/span> is taking decisive and swift steps to balance demand with supply and to keep inflation expectations anchored. Such a policy will require keeping interest rates high for some time, its chairman Jerome Powell said.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u2018There Is Clearly a Job to Do:\u2019 Fed Chairman Powell Speaks at Jackson Hole Symposium | WSJ\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Bj_3dtE6RKI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>The Fed chair explained that the longer inflation remains high, the greater the likelihood that it will become anchored at elevated levels. To bring it down, a sustained period of economic growth below trend may be required, he added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The successful disinflation [by former Fed Chair Volcker] in the early 1980s required a lengthy period of extremely restrictive monetary policy. Our aim is to avoid such an outcome by acting decisively now,&#8221; Powell said.<\/p>\n<\/blockquote>\n<p>The size of the rate increase in September will depend on the data. However, softer price pressures in the latest reports are not enough, the Fed chair warned. He suggested that at some point the central bank could slow the pace of monetary tightening.<\/p>\n<p>Powell&#8217;s remarks were slightly more hawkish, but overall echoed his <a href=\"https:\/\/forklog.news\/ekonomika-ssha-voshla-v-tehnicheskuyu-retsessiyu-v-bitkoine-volatilnost\/\"> \u0442\u0435\u0437\u0438\u0441\u044b \u043f\u0440\u0435\u0441\u0441-\u043a\u043e\u043d\u0444\u0435\u0440\u0435\u043d\u0446\u0438\u0438<\/a> following the <a href=\"https:\/\/forklog.news\/frs-povysila-klyuchevuyu-stavku-bitkoin-podnyalsya-vyshe-22-000\/\"> \u0437\u0430\u0441\u0435\u0434\u0430\u043d\u0438\u044f \u0432 \u0438\u044e\u043b\u0435<\/a>.<\/p>\n<p>The market had priced in slightly more aggressive rhetoric. Along with the latest macro data, the odds of a softer rate hike in September rose from 36% to 43.5% on the last day.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/oJzyjCdBe54yqKaAgqegjSBxvkTn--rM9ewcQfQOYOEax19sGVYjjTImMryXMJiZ9SmGAB9UeXPqhsvfxF8CYAAH9-mOLw3xdI0dn0NOJ_fMO7O07YtE_5bGFkRXzAS0eVpYhMskDMtDVqV2Q2uTfTvZGANC3gF5juSIJ4bZEmG_6hr9LHc2jL_Scw\" alt=\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u0442\u0440\u0435\u0430\u0433\u0438\u0440\u043e\u0432\u0430\u043b \u043d\u0430 \u0432\u044b\u0441\u0442\u0443\u043f\u043b\u0435\u043d\u0438\u0435 \u0433\u043b\u0430\u0432\u044b \u0424\u0420\u0421 \u043f\u0430\u0434\u0435\u043d\u0438\u0435\u043c \u043d\u0438\u0436\u0435 $21 000\" \/><figcaption>Data: <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">CME Watch<\/a>.<\/figcaption><\/figure>\n<p>The cryptocurrency market reacted negatively to Powell&#8217;s remarks. In the last 24 hours, Bitcoin fell about 3.5% (CoinGecko) and sank below $21,000. As of writing, the digital gold trades above $20,800.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"784\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-08-26_18-30-45-1024x784.png\" alt=\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u0442\u0440\u0435\u0430\u0433\u0438\u0440\u043e\u0432\u0430\u043b \u043d\u0430 \u0432\u044b\u0441\u0442\u0443\u043f\u043b\u0435\u043d\u0438\u0435 \u0433\u043b\u0430\u0432\u044b \u0424\u0420\u0421 \u043f\u0430\u0434\u0435\u043d\u0438\u0435\u043c \u043d\u0438\u0436\u0435 $21 000\" class=\"wp-image-182999\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-08-26_18-30-45-1024x784.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-08-26_18-30-45-300x230.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-08-26_18-30-45-768x588.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-08-26_18-30-45.png 1098w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly BTC\/USD chart on Bitstamp. Data: TradingView.<\/figcaption><\/figure>\n<p>All top-10 crypto assets moved into the red zone, with the exception of stablecoins USDT, USDC and BUSD.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"542\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-08-26-v-18.33.37-1024x542.png\" alt=\"\u0411\u0438\u0442\u043a\u043e\u0438\u043d \u043e\u0442\u0440\u0435\u0430\u0433\u0438\u0440\u043e\u0432\u0430\u043b \u043d\u0430 \u0432\u044b\u0441\u0442\u0443\u043f\u043b\u0435\u043d\u0438\u0435 \u0433\u043b\u0430\u0432\u044b \u0424\u0420\u0421 \u043f\u0430\u0434\u0435\u043d\u0438\u0435\u043c \u043d\u0438\u0436\u0435 $21 000\" class=\"wp-image-183002\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-08-26-v-18.33.37-1024x542.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-08-26-v-18.33.37-300x159.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-08-26-v-18.33.37-768x407.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-08-26-v-18.33.37.png 1137w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>Recall that Galaxy Digital CEO Mike Novogratz <a href=\"https:\/\/forklog.news\/majk-novograts-sprognoziroval-sohranenie-bitkoina-v-diapazone-20-000-30-000\/\">\u0441\u043f\u0440\u043e\u0433\u043d\u043e\u0437\u0438\u0440\u043e\u0432\u0430\u043b<\/a> Bitcoin would stay in the $20,000\u2013$30,000 range.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Fed is taking decisive and swift steps to balance demand with supply and to keep inflation expectations anchored. Such a policy will require keeping rates high for some time, Fed Chair Jerome Powell said.<\/p>\n","protected":false},"author":1,"featured_media":66364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1224],"class_list":["post-66363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66363"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66363\/revisions"}],"predecessor-version":[{"id":66365,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66363\/revisions\/66365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66364"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}