Analysis: Fed Chairman Powell's speech had no impact on Bitcoin price trend

Fed Chairman Powell said today that he would not send a signal about the timing of future policy actions, and rising inflation is not the only risk facing the economy. Subsequently, the possibility of a rate cut in September increased slightly. Powell's testimony did not have a significant impact on the price of Bitcoin (BTC). BTC rebounded briefly but quickly gave up its gains. It is currently just above $57,000, up slightly in the past 24 hours. The latest inflation data will also be released on Thursday. The US Consumer Price Index (CPI) report for June is expected to show that prices rose 0.1% last month, and core prices (excluding food and energy) rose 0.2%. On an annual basis, the overall inflation rate is expected to reach 3.1%, and the core inflation rate is expected to reach 3.4%. Any surprises in either direction could quickly change the possibility of a rate cut in September. (Coindesk)