#PowellRemarks : Impact on Bitcoin and the Crypto Market

The cryptocurrency market has experienced significant fluctuations following recent statements by Federal Reserve Chairman Jerome Powell. During a press conference, Powell announced a 25 basis point interest rate cut, placing it in the range of 4.25% to 4.50%. However, he noted that only two additional rate cuts are expected in 2025, fewer than the markets had anticipated.

These statements caused the price of Bitcoin to drop, briefly dipping below $100,000 USD, reflecting the crypto market's sensitivity to the Federal Reserve's monetary policies.

Furthermore, Powell emphasized that the Federal Reserve has no interest in owning Bitcoin, indicating that any change in this stance would be up to Congress. 

This news underscores the importance of cryptocurrency investors staying informed and adjusting their strategies based on global economic and monetary policies.