Powell statement on the American economy enhances the morale of the cryptocurrency market Flash news details

On April 16, 2025, Jerome Powell, Chairman of the Federal Reserve, announced that the American economy is still strong, which led to great upward feelings in the encrypted currency market (Source: Crypto Rover, Twitter, April 16, 2025). After this announcement, Bitcoin (BTC) witnessed a sharp increase, as it increased by 4.2 % during the first hour, moving from $ 67500 to $ 70,350 at 10:15 am US ES (Source: Coinmarkcap, April 16, 2025). ETHEREUM (ETH) also witnessed a noticeable increase, increasing by 3.8 % from $ 3,200 to $ 3325 during the same period (Source: Coingecko, April 16, 2025). This bullish trend extended to other major encrypted currencies such as Ripple (XRP), which increased by 5.1 % from $ 0.85 to $ 0.89 at 10:30 am US ES (Source: Tradingvief, April 16, 2025). The BTC trading volume on the main exchanges such as Binance increased by 25 % to 12000 BTC within the first hour after the Powell announcement (Source: Binance, April 16, 2025). The total market value of encrypted currencies increased by 3.9 %, reaching 2.3 trillion dollars at 11:00 pm EST (Source: Coinmarketcap, April 16, 2025). Bitcoin chain on the series indicated an increase in active addresses, with a 15 % increase within the first two hours after implementation, indicating an increase in market participation (Source: Glassnode, April 16, 2025). This economic statement of Powell put a positive tone of the encryption market, as investors were optimistic about the strong American economy news.

The trading effects of the Powell statement were extensively wide across the cryptocurrency market. The BTC/USD trading pair witnessed the highest clock trading level last month, reaching 15,000 BTC at 11:30 am EST (Source: Coinbase, April 16, 2025). Follow the ETH/USD House, with 20 % trading sizes to 500,000 ETH were traded in the same time frame (Source: KARKEN, April 16, 2025). The XRP/USD pair has also witnessed an increase in trading activity, as folder sizes increased by 18 % to 200 million XRP at 11:45 am US ES (Source: BITSTAP, April 16, 2025). The bullish feelings were reflected in the index of fear and greed, which moved from 50 neutrals to a greedy level of 65 during the first two hours after the announcement (Source: Alternative.me, April 16, 2025). The market’s reaction to Powell’s statement indicates a strong relationship between macroeconomic news and cryptocurrency market movements, taking advantage of investors from the positive economic outlook to raise prices and trading volume. This link to merchants provides possible opportunities to take advantage of the market morale transformations driven by economic news.

The technical indicators of Bitcoin showed a higher outbreak than the level of resistance at $ 69,000, with the RSI index (RSI) from 60 to 72, indicating a strong bullish momentum starting at 12:00 pm (Source: Tradingvief, April 16, 2025). MacD MACD is confirmed by BTC/USD, the bullish trend, with the MACD line crossing the top of the signal line at 12:15 pm (Source: TradingView, April 16, 2025). The technical indicators of Ethereum also reflected an upward look, as RSI indicators rose from 58 to 68 and MACD, which displayed an upper intersection at 12:30 pm EST time (Source: TradingView, April 16, 2025). BTC trading volume on BTC/USDT pair on Binance reached 18000 BTC at 12:45 pm EST, confirming more bullish momentum (Source: Binance, April 16, 2025). The market’s reaction to Powell’s statement highlights the importance of maintaining the modernization of economic news and understanding its impact on the dynamics of the encrypted currency market. Traders can use these technical indicators and size data to make informed trading decisions, and take advantage of the upward trend.

Often, questions about the effect of Jerome Powell’s statement on the encrypted currency market include the following. How was the Bitcoin price reaction immediately after Powell’s announcement? The Bitcoin price increased by 4.2 % during the first hour, moving from $ 67,500 to $ 70,350 at 10:15 am US time (Source: CoinmarkketCAP, April 16, 2025). What is the effect on the price of ethereum? The price of ETHEREUM increased by 3.8 % from $ 3,200 to $ 3,325 during the same period (Source: Coingecko, April 16, 2025). How did trading volumes change through the main cryptocurrencies? The BTC trading volume increased on Binance by 25 % to 12000 BTC circulated during the first hour after the Powell announcement (Source: Binance, April 16, 2025). The ETH/USD pair witnessed trading sizes by 20 % to 500,000 ETH trading at 11:30 am ESTT (Source: KARKEN, April 16, 2025). What are the technical indicators that supported the upper trend? For Bitcoin, RSI moved from 60 to 72, and MACD confirmed the budget trend with Cross at 12:15 pm EST time (Source: TradingView, April 16, 2025). ETHEREUM Speculation Indicators rose from 58 to 68, and MACD showed a bullish intersection at 12:30 pm EST (Source: Tradingvief, April 16, 2025).