Dollar

United

Jerome Powell

Wednesday

Reserve

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-chairman-jerome-powell-drives-declines-in-global-crypto-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Fed Chairman Jerome Powell Drives Declines in Global Crypto Assets</a><br></p>
<p style="text-align: justify">Federal Reserve Chairman Jerome Powell’s statements regarding interest rate cut expectations in the United States have led to declines in global <a href="https://en.coin-turk.com/solanas-remarkable-recovery-and-potential-tron-integration/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> prices. The general market sell-off that began on Wednesday has accelerated today.</p>
<h2 id="bitcoin-and-altcoin-declines">Bitcoin and Altcoin Declines</h2>
<p style="text-align: justify">Despite Bitcoin attempting to rebound above $100,000, it has quickly fallen throughout the day. Following intensified selling in recent hours, the price of Bitcoin (BTC) dropped to as low as $95,700.</p>
<p style="text-align: justify">Ethereum (ETH) decreased by 10.8%, falling below $3,500, while Cardano ‘s <a href="https://en.coin-turk.com/cardanos-price-surges-past-one-dollar-igniting-market-interest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a>, Chainlink ‘s LINK, Aptos’ APT, <a href="https://en.coin-turk.com/luna-coin-reviews-and-avax-coin-reviews-turkish-investors-favorite-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Avalanche</a>‘s AVAX, and Dogecoin ‘s DOGE experienced losses ranging from 15% to 20%. SOL has also dropped to its lowest levels since November 7, suffering approximately a 26% loss.</p>
<h2 id="current-state-of-traditional-markets">Current State of Traditional Markets</h2>
<p style="text-align: justify">In traditional markets, U.S. stock indices rebounded slightly from declines seen on Wednesday, although they gave back some pre-market gains during the session. The S&amp;P 500 and tech-heavy Nasdaq showed an increase of 0.5% compared to Wednesday’s close.</p>
<p style="text-align: justify">The U.S. Dollar Index (DXY) rose above 108, reaching its strongest level since November 2022, serving as a gauge against a basket of foreign currencies. Additionally, 10-year U.S. Treasury yields quickly rose above 4.6%, marking their highest levels since May.</p>
<p style="text-align: justify">Recently, the surge in crypto prices following Donald Trump’s election victory in early November was supported by expectations of pro-crypto policies from his administration. However, projections indicating a slowdown in the Fed’s rate cut pace and Powell’s stern remarks about rising inflation misled investors into widespread sell-offs.</p>
<p style="text-align: justify">In light of these developments, it is crucial for investors to closely monitor market fluctuations and potential pullbacks.</p>
<p>The post <a href="https://en.coin-turk.com/fed-chairman-jerome-powell-drives-declines-in-global-crypto-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Fed Chairman Jerome Powell Drives Declines in Global Crypto Assets</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Fed Chairman Jerome Powell Drives Declines in Global Crypto Assets

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