Fed, Jerome Powell
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BTC and ETH both opened the day with a clear uptrend sentiment against USD, just before the expected 25bps rate cut, and the strength showed up early in the Bitcoin to Ethereum price relationship as well.
Powell said he would not discuss current economic conditions or monetary policy, choosing instead to honour former US Secretary of State George Shultz.
Wall Street experienced a downturn as investors awaited Federal Reserve Chair Jerome Powell's speech for insights on the interest rate path. U.S. manufacturing continues to shrink due to rising costs and weak orders.
Powell was addressing an event at the Hoover Institution at the Stanford University.
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