cryptofamily

The drawdown in crypto prices comes after the Fed announced a 25 basis point rate cut to its benchmark policy rate. It was Powell’s post-rate cut comments that triggered panic selling as indicated that only two more rate cuts would occur in 2025.
The Fed committee also raised their 2025 inflation outlook from 2.1% to 2.5%, adding to what market participants view as a hawkish outlook.  “We’re not allowed to own Bitcoin,” Powell said, adding that the Fed is “not looking for a law change” that would allow them to hold BTC. 
Powell’s comments shook the prices across the market, which have rallied sharply along with Bitcoin since Donald Trump’s victory in Nov. 5 US Presidential Election in prospects of a more crypto-friendly administration.

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