{"id":331193,"date":"2021-08-27T18:08:43","date_gmt":"2021-08-27T15:08:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uber-dovish-fed-sparks-sp-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move\/"},"modified":"2021-08-27T18:08:43","modified_gmt":"2021-08-27T15:08:43","slug":"uber-dovish-fed-sparks-sp-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uber-dovish-fed-sparks-sp-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move\/","title":{"rendered":"# &#8216;Uber dovish&#8217; Fed sparks S&#038;P 500 all-time high as analyst calls new Bitcoin impulse move"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ca68ca85bf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ca68ca85bf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/uber-dovish-fed-sparks-sp-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move\/#BTC_price_action_charges_upwards\" >BTC price action charges upwards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/uber-dovish-fed-sparks-sp-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move\/#Did_Bitcoin_just_begin_a_new_bullish_surge\" >Did Bitcoin just begin a new bullish surge?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># &#8216;Uber dovish&#8217; Fed sparks S&amp;P 500 all-time high as analyst calls new Bitcoin impulse move <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) gained almost $1,500 in under an hour on Aug. 26 after an &#8220;uber dovish&#8221; speech by Federal Reserve Chair, Jerome Powell.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/3e58fde5-142c-4f98-a80b-47eedcb0fd46.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_action_charges_upwards\"><\/span>BTC price action charges upwards<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/speech\/powell20210827a.htm\">Speaking<\/a> at the virtual Jackson Hole annual symposium, Powell hinted that the Fed would begin to reduce its asset purchases in place since the start of the Coronavirus pandemic.<\/p>\n<p>A long-awaited signal, the move, referred to as &#8220;tapering,&#8221; may come this year, but Powell did not give a firm deadline for it to begin.<\/p>\n<p>&#8220;Even after our asset purchases end, our elevated holdings of longer-term securities will continue to support accommodative financial conditions,&#8221; he said.<\/p>\n<blockquote><p>&#8220;The timing and pace of financial reduction of asset purchases will not be intended to carry a direct signal regarding the timing of interest rate lift-off, for which have articulated a different and substantially more stringent test.&#8221;<\/p><\/blockquote>\n<p>A reduction in asset purchases would likely take the wind out of the stock markets&#8217; sails, the Fed thus sparing indexes losses with Powell&#8217;s remarks. The S&amp;P 500 went on to hit fresh all-time highs afte the speech.<\/p>\n<p>At the same time, the U.S. dollar weakened, while Bitcoin showed clear strength, hitting local highs of over $48,400 on Bitstamp.<\/p>\n<p>Traders and analysts alike were conspicuously bullish.<\/p>\n<p>&#8220;Put on your rally hat, futures have expired and bitcoin is rising,&#8221; Scott Melker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1431264030673539074\">summarized<\/a>, also noting that the $2 billion end-of-month expiry for open interest had completed.<\/p>\n<p>Popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> trader Ryan Cantering Clark meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1431257174467096584\">described<\/a> Powell&#8217;s tone as &#8220;uber dovish&#8221; and advocated long positions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Did_Bitcoin_just_begin_a_new_bullish_surge\"><\/span>Did Bitcoin just begin a new bullish surge?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the Fed, bullishness continued looking further out at the coming weeks for Bitcoin.<\/p>\n<p><strong><em>Related:\u00a0Grayscale Bitcoin Trust FUD is now over as the last GBTC unlock totals just 58 BTC<\/em><\/strong><\/p>\n<p>On Friday, analyst William Clemente went as far as to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1431261843989860354\/\">call the start<\/a> of a new &#8220;bullish\u00a0impulse&#8221; move similar to that seen at the end of July.<\/p>\n<p>&#8220;After some profit-taking earlier in the week, it <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears that we are starting another Bullish Impulse,&#8221; he said, eyeing several on-chain metrics related to Bitcoin&#8217;s &#8220;supply shock.&#8221;<\/p>\n<blockquote><p>&#8220;Will need to monitor these flows over the next few days, but as of now leaning bullish for the coming 1-2 weeks.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1431261843989860354\/photo\/1\"><\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/550c1c9c-6bc4-41cb-907b-828f2d0788bf.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin supply shock metrics chart. Source: William Clemente\/ Twitter<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, the verdict on what is to come in Q4 this year remains firmly bullish.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/uber-dovish-fed-sparks-s-p-500-all-time-high-as-analyst-calls-new-bitcoin-impulse-move\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;Uber dovish&#8217; Fed sparks S&amp;P 500 all-time high as analyst calls new Bitcoin impulse move &#8221; Bitcoin (BTC) gained almost $1,500 in under an hour on Aug. 26 after an &#8220;uber dovish&#8221; speech by Federal Reserve Chair, Jerome Powell. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price action charges upwards Speaking at the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":331194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYTEyNzY2MjYtZTQ2Ni00MDBhLWJlZjAtOGM0ZDg0MjA4ZGMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-331193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=331193"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/331194"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=331193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=331193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=331193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}