In the latest statements by Federal Reserve Chair Jerome Powell, he indicated that inflation remains high and its rate is far from the target, and that the time for a rate cut has not yet come.

This statement led to a temporary reaction in the stock market as well as in the cryptocurrency market where the market witnessed:

1_ Investors resorting to stablecoins that represent stability and security.

2_ The cryptocurrency market experienced selling pressure that led to a decline in the prices of some cryptocurrencies.

3_ Investors turning to strong and supported currencies.

There is great hope that the next meeting will have decisions that positively impact the cryptocurrency market and others.