BTC Price Surges Above $28.6K as Bitcoin Anticipates ‘Very Dovish’ Fed Powell Speech

Bitcoin (BTC) remained under pressure near the $28,500 mark following the opening of Wall Street on October 19, as anticipation built around a significant speech regarding U.S. economic policy.

Recent data indicated that BTC’s price action was gaining momentum in the lead-up to remarks from Jerome Powell, the chair of the Federal Reserve.

Charts illustrating the probabilities of the Fed’s target rate and order book data for BTC/USD on Binance were notable during this period, reflecting the market’s response to the upcoming economic insights.

As the situation develops, investors are closely watching for potential impacts on the cryptocurrency market and broader economic landscape.