Crypto Price Today: Bitcoin jumps above $98K ahead of Fed Chair Powell's testimony; Cardano, Sui surge up to 13%
Bitcoin (BTC) and major cryptocurrencies gained on Tuesday, February 11, as investors monitored US trade policy shifts and awaited Federal Reserve Chair Jerome Powell’s remarks on tariffs and inflation.
On Monday, former US President Donald Trump raised tariffs on steel and aluminum imports to 25%, while a 10% tariff on Chinese imports had already taken effect earlier in the month.
Meanwhile, Fed Chair Powell is due to speak on Tuesday for the semiannual monetary policy testimony before the Senate Banking, Housing and Urban Affairs Committee. His comments on tariffs and inflation are likely to be closely monitored.
Markets are largely expecting the Fed to hold rates steady at its March meeting, with expectations for a cut of at least 25 basis points not climbing above 50% until June, according to CME's FedWatch Tool.
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View Details»As of 10:46 am IST, Bitcoin rose 1.1% to $98,209, while Ethereum gained 2.4% to $2,699. The global cryptocurrency market cap increased 2.05% to approximately $3.23 trillion over the past 24 hours.
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