Bearish BTC Sentiment Persists Despite Powell’s Signal That QT May Be Nearing End

Bearish BTC Sentiment Persists Despite Powell’s Signal That QT May Be Nearing End


Federal Reserve Chairman Jerome Powell on Tuesday said that the central bank could soon reach a point where its long-running program to reduce the balance sheet size would need to end. Yet, BTC continues to trade in the red with derivatives pointing to persistent bearish sentiment.

“Our long-stated plan is to stop balance sheet runoff when reserves are somewhat above the level we judge consistent with ample reserve conditions,” Powell said in prepared remarks for his speech at the National Association for Business Economics conference in Philadelphia.

STORY CONTINUES BELOW

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