Post-Powell’s speech, Bitcoin touched a 19-month high, buoyed by market optimism and speculation regarding the Fed’s future direction. Some analysts, noting this uptrend, believe Bitcoin could breach the $40,000 mark and march toward $50,000.
Markus Thielen of Matrixport, in a note to investors, posited a 90% chance of Bitcoin reaching $45,000. He attributes this to market positivity and the potential approval of a spot exchange-traded fund (ETF).