‘Uber dovish' Fed sparks S&P 500 all-time high as analyst calls new Bitcoin impulse move

(BTC) gained almost $1,500 in under an hour on Aug. 26 after an “uber dovish” speech by Federal Reserve Chair, Jerome Powell.

1-hour candle chart (Bitstamp). Source: TradingView

Speaking at the virtual Jackson Hole annual symposium, Powell hinted that the Fed would begin to reduce its asset purchases in place since the start of the Coronavirus pandemic.

Bitcoin supply shock metrics chart. Source: William Clemente/ Twitter (NYSE:)