☄️Federal Reserve’s Anti-Bitcoin Stance Causes Major Drop in Crypto Market☄️

📉 The crypto market witnessed a significant drop on December 19, 2024. Major cryptocurrencies such as Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and XRP experienced significant declines. This drop followed Federal Reserve Chairman Jerome Powell’s remarks at the recent meeting on interest rate cuts.

⚠️Reasons for Crypto Market Drop⚠️

🔻 Interest Rate Adjustment:
🔹 The Federal Reserve announced the interest rate ceiling at 4.50%, which was in line with expectations and down from 4.75%.
🔹 Although the interest rate cut was expected, Powell’s comments on cryptocurrencies had a negative impact on the market.

🔻 Powell’s Controversial Statements on Crypto:
🔹 Powell stated: “We are not allowed to own Bitcoin and we have no intention of changing the rules.”
🔹 He stressed that the Fed has no plans to support the creation of a “Bitcoin Strategic Reserve.”