• Fed’s rate cut hints boost Bitcoin, breaking past $62k with bullish market momentum.
• Increased options activity shows traders’ confidence, targeting 80k-85k by December-March.
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• Bitcoin stabilizes in a new $61k-$70k range, with strong ETF inflows and diminishing sell pressure.

Bitcoin’s price surged to $64,151.81, a 5.47% jump in 24 hours, following Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. His remarks, hinting at possible interest rate cuts in September, ignited optimism among U.S. investors, driving strong demand for Bitcoin.

QCP: BTC finally got the recovery that we've been waiting for. It seems Powell's speech at Jackson Hole was the catalyst it needed to breakout of the 58k-62k range. Rate cuts are confirmed for Sep but there was no indication on how much, so August Payrolls will be critical. US…

— Wu Blockchain (@WuBlockchain) August 24, 2024

While Powell did not provide specifics, the prospect of rate cuts has put the spotlight on August Payrolls, which could influence the size of the cuts. A moderate 25 basis point cut is generally expected to be positive for the market. A larger 50 basis point cut could signal the Fed’s determ…