Federal Reserve chairman Jerome POwell lights up speculation again, underwrites Bitcoin by offering to the markets that the Fed will make three rate cuts in 2024, despite high PPI and CPI and employment readings. because of a China recession?

Bitcoin broke out of its bull trap ranges of 65000 and 63000 and punched back through its 64000 support, soley on the back of Federal Reserve chairperson Jerome Powell speech after the Fed meeting, where rates were, as expected, left unchanged.  And in true dovish Fed speak, he claims that the Fed, with backward readings on inflation data, will cut rates going forward into 2024, at least 3 times despite the high job markets and of course despite, even though they are excluded items in inflation numbers, higher oil and food prices.  Probably in expectation of a China slowdown in 2024. But, no stagflation.  Such is Powell at the helm of the Fed, the market will be juiced and underwritten, therefor BTC was saved from capitulation.  Was it a bailout by the Fed?  Well, not quite.  But, the so called BTC analysts waffling on about "halving" and other cryptic terminology for the crypto markets, which makes no sense anymore or less that it sounds cool, when in fact, like all markets, they are driven and priced by U.S. Dollars.  BTC collapse was solely on the back of higher CPI and PPI readings, spiking 10 YR yields and a priced out/crowded BTC ETF market (high fees).  Which lead to bubble trading, thanks to lower yields on the short end bonds and of course USD selling, via Powell claim that the Fed will start cutting rates.  Thus, speculation will remain bid and the Fed have offered to the market that they are ok with that.  That's how it goes.

Until it doesn't.  Overconfidence and arrogance are a fatal combination.

BTC is stretched above its Bull trap range 65885, attempting to punch through the psychological 69000