{"id":75186,"date":"2023-03-07T20:45:01","date_gmt":"2023-03-07T18:45:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75186"},"modified":"2025-09-10T10:13:38","modified_gmt":"2025-09-10T07:13:38","slug":"bitcoin-tests-22000-as-powell-signals-potential-further-fed-tightening","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-tests-22000-as-powell-signals-potential-further-fed-tightening\/","title":{"rendered":"Bitcoin tests $22,000 as Powell signals potential further Fed tightening"},"content":{"rendered":"<p>The <span data-descr=\"US Federal Reserve\" class=\"old_tooltip\">Fed<\/span> chair Jerome Powell, speaking before Congress, said there is a high likelihood of further tightening of monetary policy, according to <a href=\"https:\/\/www.cnbc.com\/2023\/03\/07\/fed-chair-powell-says-interest-rates-are-likely-to-be-higher-than-previously-anticipated.html\">CNBC<\/a>.<\/p>\n<p>Against this backdrop, the price of the first cryptocurrency fell to $21,927, but subsequently regained some ground.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-11-1024x527.png\" alt=\"BTCUSDT-11\" class=\"wp-image-199914\" width=\"838\" height=\"431\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-11-1024x527.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-11-300x154.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-11-768x395.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT-11.png 1340w\" sizes=\"auto, (max-width: 838px) 100vw, 838px\" \/><figcaption>Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs I already mentioned, the latest economic data came in stronger than expected. This means the ultimate level of interest rates is likely to be higher than previously anticipated,\u201d Powell said.<\/p>\n<\/blockquote>\n<p>Nevertheless, he acknowledged that there are some signs of disinflation in core sectors of the market, excluding housing construction.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe need to see lower inflation in this sector, and there is likely to be some easing in the conditions in the labor market,\u201d he added.<\/p>\n<\/blockquote>\n<p>Currently, Powell said, the Fed is ready to accelerate the pace of rate hikes.<\/p>\n<p>Back on February 1, the U.S. Federal Reserve, for the eighth time in a row <a href=\"https:\/\/u1f987.com\/en\/news\/fed-raises-key-rate-bitcoin-edges-higher\">raised the target range for the federal funds rate<\/a> by 25 basis points, to 4.50%-4.75%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Fed chair Jerome Powell, in a congressional testimony, said there is a high likelihood of further tightening of monetary policy.<\/p>\n","protected":false},"author":1,"featured_media":75187,"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-75186","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":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75186","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=75186"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75186\/revisions"}],"predecessor-version":[{"id":75188,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75186\/revisions\/75188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75187"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}