Bitcoin Recaptures $17,000 After Jerome Powell Signals Rate Hikes Could Ease: What’s Happening?

Bitcoin (CRYPTO: BTC) was spiking up over 3.8% higher on Wednesday, crossing above the $17,000 mark after Fed Chair Jerome Powell began to speak at the Brookings Institution. Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month, causing the S&P 500 to jump about 2.8%.