Crypto Market News: Investors in the financial markets will be closely watching US Federal Reserve Chair Jerome Powell’s remarks before the US Senate House committee hearing on semiannual monetary policy on June 21 and 22, 2023. Meanwhile, the global crypto market cap currently stands at $1.08 trillion, taking a 1.03% increase over the last 24 hours. In the context of cooling inflation and the US Fed’s recent rate hike pauses, the Powell speech could act as a catalyst for the next cycle of crypto market rally. However, traders should keep in mind the Fed officials’ recent warnings about possibility of further rate hikes later in 2023.
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The Federal Reserve Chair is scheduled to testify before the US House Financial Services Committee on Wednesday. On the following day, Powell will take questions from the Senate Banking Committee as part of his semiannual testimony before lawmakers. Hence, the markets
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