Bitcoin price rises and others follow in response to Powell’s inflation remarks

Published by
City AM

By Darren Parkin Riding the tailwind of US Federal Reserve chief Jerome Powell’s latest remarks that inflation may be beginning to ease, Bitcoin is in the green at $23,170 this morning. Ethereum improved on its position by 2.5%, trading for $1,672. Tech stocks also jumped 1.3% on the news. The majority of other cryptocurrencies are also up – Cardano, Uniswap and Solana by more than 2% over the last day, while Chainlink has added 3% to yesterday’s price. While markets seem generally upbeat about the latest from the US, Powell warned that the disinflationary process will be a long one. Yesterday…

Read More