The reason for the decline in Bitcoin and altcoins is again Powell.
He stated that they have not yet considered interest rate cuts in September during the FOMC meeting, and they haven't even brought it up. In other words, he sent a message to the market that it is 'earlier'.
Honestly, this guy will be in office until the first quarter of 2026, and if he continues with this mindset, an altseason might be a dream for a while.