Bitcoin Price Volatility Around $94K Amid Fed Chair Powell's Comments on Jobs and Inflation

Bitcoin (BTC) is experiencing significant price volatility, trading near the $94,000 level. This market movement coincides with recent testimony from Federal Reserve Chairman Jerome Powell before Congress. Powell's remarks highlighted the ongoing tension between a resilient U.S. labor market and persistent inflation concerns. Investors are closely parsing his words for clues on the future path of interest rates, which are a key driver for cryptocurrency valuations. The current uncertainty in traditional monetary policy is contributing to heightened swings in the Bitcoin market as traders assess the potential for continued restrictive financial conditions from the Fed.