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Bitcoin price drops after US Federal Reserve chairman's remarks
The price of Bitcoin (BTC) fell significantly after US Federal Reserve Chairman Jerome Powell said the institution has legal restrictions on holding digital currency.

Powell, who attended a press conference after the interest rate cut, emphasized that current laws do not allow the Federal Reserve to hold Bitcoin and that the institution is not looking to change the law.

These statements caused the price of Bitcoin to fall from around $103,700 to $100,241 in less than an hour.

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