Bitcoin price charges to $116K as Fed's Powell hints at interest-rate cut

Bitcoin recovers from a trip to six-week lows as Fed Chair Jerome Powell gives strong "dovish" clues over where interest rates will head in September.

Key points:

Bitcoin returns to $116,000 after gaining over 2% in minutes thanks to “dovish” comments from Fed Chair Jerome Powell.

Powell’s Jackson Hole speech cemented the odds of an interest-rate cut next month.

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