06 Dec 2022
Powell relief followed by diminishing volatilityPowell relief followed by diminishing volatility
- BTC up 5%
- All upside seen during Jerome Powell's speech at Brookings
- CME OI is falling
- Perp activity falls 70%
The crypto market saw more upside last week after a strong positive reaction to Jerome Powell’s speech at the Brookings Institution on November 30. In the speech, Powell indicated that the FED “could live with a more modest interest rate hike in December”, reflecting positively on the crypto market. However, Powell also indicated that rate hikes in 2023 could become higher than anticipated.