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Why is the crypto market up immediately? By Cointelegraph

Why is the crypto market up immediately?

The crypto market is up immediately and (BTC), (ETH) and quite a few altcoins all rallied after United States Federal Reserve Chairman Jerome Powell advised that December may see the beginning of smaller-sized rate of interest hikes.

Crypto and equities markets responded positively to Powell’s Brookings Institute speech through which he talked about promising developments with inflation resulting in softer price hikes.

Nasdaq, S&P 500, Dow Jones, Ether and Bitcoin. Supply: TradingView
Fed goal price possibilities chart. Supply: CME Group (NASDAQ:)
Bitcoin lengthy versus quick ratio. Supply: Coinglass
Bitcoin volatility index. Supply: TradingView
BTC/DXY comparability. Supply: TradingView