Bitcoin price hits $39K as Powell stirs bets Fed rate hikes are over

Bitcoin (BTC) hit $39,000 for the first time since mid-2022 on Dec. 1 as the United States Federal Reserve boosted hopes of policy easing.

BTC/USD 1-hour chart. Source: TradingViewPowell: Calling end to hikes would be “premature”

Data from Cointelegraph Markets Pro and TradingView confirmed a new 19-month BTC price high of $39,000 on Bitstamp.

Bitcoin bulls, already in a strong position, beat out resistance as Fed Chair Jerome Powell took to the stage at Spelman College in Atlanta, Georgia for a scheduled appearance.

“The FOMC is strongly committed to bringing inflation down to 2% over time and to keeping policy restrictive until we’re confident that inflation is on a path to that…

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