Bitcoin Climbs to Two-Week High Ahead of Speech by Fed’s Powell
- Crypto markets for now shrug off FTX contagion and push higher
- Fed Chair Powell may cement expectations for slower rate hikes
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Bitcoin spiked higher Wednesday in the countdown to a speech by Federal Reserve Chair Jerome Powell that may cement expectations for a slower pace of interest-rate hikes in the US.
The largest token added as much as 3.7% and was trading at about $17,010 as of 10:41 a.m. in Singapore, the highest level in two weeks. Ether climbed over 4%, while the likes of Binance Coin and Dogecoin also jumped.