Powell Prints $100M US Treasuries, Bitcoin Soars to $68k

Federal Reserve Chair Jerome Powell's recent actions have significantly impacted the cryptocurrency and stock markets, according to various Twitter users. Powell is accused of fueling a massive asset bubble, with particular emphasis on cryptocurrencies and meme stocks. Users highlighted Powell's dovish stance, suggesting it has led to a surge in speculative investments, including memecoins, NFTs, and stocks favored by retail traders on platforms like Wall Street Bets, particularly among 0dte gamblers and Wall Street Bets yolo bois. Notably, Bitcoin's value was reported to have increased from $63k to $66k in just an hour, and then further to $68k, following Powell's decision to print an additional $100 million in US Treasuries. This move has been interpreted as saving the cryptocurrency market from a potential major correction, with users expressing gratitude towards Powell for preventing a market downturn.