Bitcoin Soars Above $116,800 as Powell’s Fed Shift Boosts Crypto Demand
Bitcoin (BTC) surged on Friday, breaking above $116,800, as optimism around Federal Reserve policy shifts reignited demand for digital assets.
The move comes just hours after Fed Chair Jerome Powell hinted that the central bank could begin easing rates sooner than markets had expected.
Bitcoin price action
According to CoinMarketCap, Bitcoin is trading at $116,890, up 3.5% in the past 24 hours. Its market capitalization now exceeds $2.32 trillion, while daily trading volume jumped to $69.13 billion, a 15.3% increase from the previous session.
With 19.9 million BTC already in circulation and only 21 million total supply, the supply squeeze narrative continues to underpin price momentum. Analysts highlight that…
