The crypto market reacts positively to Powell's hints at disinflation in the US and Bitcoin broke the $24K mark.
) broke through the $24,000 ceiling and the total crypto market cap jumped nearly 4% after United States Federal Reserve Chair Jerome Powell indicated that inflation had begun slowing down in the world’s largest economy.
The rate hike and Powell’s remarks appeared to have gone down well in the crypto markets, which had beenCryptocurrency market capitalization from Feb. 1 to Feb. 2. Source: CoinMarketCapto the latest figures from Coinmarketcap.slightly over $24,000 for the first time in 2023, reaching $24,161.27 according to Coinmarketcap.That being said, Powell said they still expect inflation to continue rising in the services sector for some time and to be prepared for “ongoing rate rises.
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