Fed Chair Jerome Powell's recent speech has sent shockwaves through the markets, and Bitcoin is reacting. The cryptocurrency dipped below $117,000 amid ETF outflows, with a 1.1% decline to $116,994.¹ This comes after Bitcoin experienced a slight increase, but ultimately fell below the $117,000 mark due to profit-booking and outflows from institutional products.
Ethereum also felt the impact, falling 2.3% to $3,681. However, Solana defied the trend, rising 5% to hit a five-month high above $200. The market is now cautiously awaiting Powell's next move, with investors closely watching for potential signals on interest rates or leadership changes at the Fed.
In terms of current prices, Bitcoin is trading at $118,280, with a market cap of $2.35 trillion.² Ethereum's futures interest has also seen a significant increase, rising from $18 billion to $28 billion in just one week.#AmericaAIActionPlan #BNBBreaksATH #BTRPreTGE #BTCvsETH #ETHBreaks3700
