Manipulation is inevitable and it happens in every financial market, not just bitcoin. But as far as I know, bitcoin price reacted positively after the Fed chairman's statement and then quickly dropped sharply because a whale sold more than 24,000 BTC, equivalent to more than $4 billion.
Furthermore, Powell only hinted that the Fed would cut rates, but he did not say for sure that a rate cut would happen in September. Therefore, we should not be surprised that the market remains cautious and not overly optimistic.
Short-term manipulation is a constant in financial markets, and it applies to everything. The Fed's statement is always eagerly awaited by some to exploit market opportunities, and its words can always lead to two opposing positions by the time the speech concludes. The Fed's power to raise or cut interest rates has always had a short-term influence on financial markets, and Bitcoin's trajectory is no exception.
Recently, we saw a reversal in Bitcoin's price movement, with a significant drop from its all-time high. We need to be careful in facing uncertain market situations like now so that we can take several steps to avoid unwanted losses, in this way we can be wiser in seeing existing opportunities.