July 27 BTCUSD BingX Chart Analysis and Today's Headline

BTC experienced a slight short-term rebound, but the momentum was limited as it failed to surpass the $29,850 resistance. The focus remains on the $28,500 support level. Despite the impact of interest rates, BTC did not undergo a significant pullback, with the short-term structure finding support at lower levels, and previous bearish trends did not break through.

Powell: Future Interest Rate Hikes Will Depend on Data, And May Raise Interest Rates in September if Necessary

Federal Reserve Chairman Jerome Powell, during a press conference, reaffirmed their commitment to achieving the dual mandate, aiming to bring inflation back to 2%. The full impact of the interest rate hikes has not yet manifested, and economic activity is moderately expanding. The labor market remains tight, with robust employment growth. Inflation has eased to some extent, but there is still a long way to go to reach the 2% target. Core inflation remains relatively high, warranting continued vigilance against inflation. Interest rates will be kept at elevated levels for "some time." Future rate hikes by the FOMC will be data-dependent, and no decisions have been made regarding upcoming meetings. If the data indicates a need, the Fed might consider raising rates in September.

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