The post Where Is Bitcoin Headed Next Following Fed Chair Powell’s Remarks? appeared on BitcoinEthereumNews.com. In brief Analysts were upbeat that the Fed would cut interest rates again and help bolster risk assets. In his post decision comments, Jerome Powell noted the bank’s concerns about a sagging job market and continued inflationary pressure. Bitcoin was trading at about $116,200, down slightly over the past 24 hours. Neither the U.S. central bank’s decision to drop the interest rate nor Federal Reserve Chair Jerome Powell’s measured comments following the announcement stirred Bitcoin much on Wednesday. But analysts whom Decrypt spoke to are largely upbeat that the asset’s price would gain ground throughout the remainder of the year.  Powell’s emphasis on a sagging employment market and wider concerns will likely result in additional rate cuts, sending Bitcoin and other cryptocurrencies higher, they said. They also noted other factors, including the growth of crypto treasuries, as a boon. “Powell framed today’s move as a ‘risk-management cut’ and noted there was no big push for a 50 bps move, even as the statement flagged slowing job gains and still-elevated inflation,” Ira Auerbach, former head of digital assets at Nasdaq and current head of tandem at Offchain Labs, told Decrypt. “The FOMC’s statement and projections sketch a data-dependent path to more cuts in the near future. Easier financial conditions ahead should be supportive of the crypto ecosystem.” Earlier Wednesday, the Fed lowered the federal funds rate that it sets for overnight lending between commercial banks to a range between 4.25% and 4.50%. This year’s first cut came after leaving rates unchanged throughout five monetary policy meetings and after months of intense pressure from U.S. President Donald Trump, who has been sensitive to being saddled with a sagging economy.   But declining employment numbers, including a more than 900,000 downward adjustment in the number of jobs created over a year-long period ending… The post Where Is Bitcoin Headed Next Following Fed Chair Powell’s Remarks? appeared on BitcoinEthereumNews.com. In brief Analysts were upbeat that the Fed would cut interest rates again and help bolster risk assets. In his post decision comments, Jerome Powell noted the bank’s concerns about a sagging job market and continued inflationary pressure. Bitcoin was trading at about $116,200, down slightly over the past 24 hours. Neither the U.S. central bank’s decision to drop the interest rate nor Federal Reserve Chair Jerome Powell’s measured comments following the announcement stirred Bitcoin much on Wednesday. But analysts whom Decrypt spoke to are largely upbeat that the asset’s price would gain ground throughout the remainder of the year.  Powell’s emphasis on a sagging employment market and wider concerns will likely result in additional rate cuts, sending Bitcoin and other cryptocurrencies higher, they said. They also noted other factors, including the growth of crypto treasuries, as a boon. “Powell framed today’s move as a ‘risk-management cut’ and noted there was no big push for a 50 bps move, even as the statement flagged slowing job gains and still-elevated inflation,” Ira Auerbach, former head of digital assets at Nasdaq and current head of tandem at Offchain Labs, told Decrypt. “The FOMC’s statement and projections sketch a data-dependent path to more cuts in the near future. Easier financial conditions ahead should be supportive of the crypto ecosystem.” Earlier Wednesday, the Fed lowered the federal funds rate that it sets for overnight lending between commercial banks to a range between 4.25% and 4.50%. This year’s first cut came after leaving rates unchanged throughout five monetary policy meetings and after months of intense pressure from U.S. President Donald Trump, who has been sensitive to being saddled with a sagging economy.   But declining employment numbers, including a more than 900,000 downward adjustment in the number of jobs created over a year-long period ending…