Crypto Market Pulls Back After Fed Chair’s Hawkish Remarks

Bitcoin (BTC) and major altcoins saw a notable decline today as the broader crypto market reacted to comments from U.S. Federal Reserve Chair Jerome Powell. BTC slipped to around US$110,000, while the total crypto market capitalization fell by roughly 1.6% to 2%.

Powell’s remarks hinted that further interest rate cuts this year are not guaranteed, dampening earlier investor optimism about a more accommodative monetary policy. His cautious tone sparked a retreat in risk assets, including cryptocurrencies, stocks, and tech equities.

Market analysts note that investor sentiment has turned cautious, with traders reassessing expectations for monetary easing. While the long-term bullish trend for crypto remains intact, the recent rally may be entering a consolidation phase as markets adjust to the Fed’s stance.$SOL $BNB $BTC