Does Powell pressure Bitcoin? Altcoins may be the big opportunity of the moment

Bitcoin declines after Powell's speech, but altcoins like CCD gain traction despite the weekly correction.

Bitcoin fell about 2% on Wednesday (30) after Jerome Powell, chairman of the Federal Reserve, adopted a hawkish tone and signaled that interest rates should remain between 4.25% and 4.5% for a longer time. Despite this, the leading cryptocurrency remains stable above US$$ 115 million, showing resilience in the face of the macroeconomic scenario.

Meanwhile, altcoins with solid fundamentals gain traction. Concordium (CCD), focusing on compliance and privacy, stands out as a safe alternative for investors seeking diversification. Chainlink (LINK), essential for DeFi integrations, and Arbitrum (ARB), which offers scalability for the Ethereum ecosystem, benefit from capital movements in search of more innovative projects that are less dependent on bitcoin.

With high interest rates, these altcoins may attract strategic investors and accelerate their appreciation.