Bitcoin Blasts to $64,853—Powell’s Rate Cut Hints Lift Entire Crypto Market

Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which now stands at $2.24 trillion.

Bitcoin Nears $65K Range Amid Powell’s Latest Remarks

On Friday afternoon, bitcoin (BTC) was cruising along at $64,433 per coin, following an intraday peak of $64,853. BTC climbed 5.3% today and has gained 6.6% against the U.S. dollar over the past week.