Bitcoin had one of its most volatile weeks in recent months, marked by sharp swings that kept both bulls and bears on edge. The leading cryptocurrency surged to a new all-time high near $124,000, only to tumble below the $115,000 level within days. This swift reversal highlighted the fragility of momentum in overheated conditions but also underscored the market’s ability to rebound when macroeconomic catalysts emerge.

The turning point came during Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where a key statement triggered an immediate market reaction. Powell hinted at a potential shift in policy stance, suggesting that restrictive conditions could soon be adjusted. Within minutes, risk assets, including Bitcoin, surged as liquidity poured back into markets, sparking renewed optimism across the crypto space.

Following the speech, Bitcoin regained strength, climbing back above the $115K support zone. This recovery has reignited bullish sentiment, with traders eyeing the next resistance levels that could decide the short-term trajectory. The broader crypto market followed suit, with altcoins showing renewed momentum as investors reallocated capital.

Bitcoin Futures React To Powell’s Jackson Hole Speech

According to top analyst Darkfost, Federal Reserve Chair Jerome Powell’s speech at Jackson Hole acted as a powerful catalyst for Bitcoin futures markets. In his remarks, Powell stated that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” This subtle yet impactful statement hinted at a potential easing of the Fed’s monetary policy, immediately sparking a surge of optimism across global markets.