Recent comments by Federal Reserve Chair Jerome Powell have caused panic in the digital asset market, leading to significant declines in most altcoins.
Jerome Powell's Statements
Jerome Powell stated that the number of rate cuts in 2025 would be half as many as previously expected, which surprised the market.
Cryptocurrency Market Reaction
According to blockchain analytics platform Santiment, both cryptocurrency and equities markets reacted negatively to the Fed's announcements. The main concern was not the rate cuts themselves, but the scale set for 2025.
Specific Price Changes
Bitcoin (BTC) fell to $100,000, retreating from a previous level of $105,302.37. Ethereum (ETH) also dropped to $3,600, while altcoins like LINK, AVAX, DOT, and XRP suffered more severe losses.
Powell's 'hawkish' stance on interest rates has caused unrest in the digital asset market, leading to sharp price fluctuations. Investors now need to closely monitor upcoming Fed decisions.
