Jerome Powell

Bitcoin

Reserve

Billion

Higher

<ul class="wp-block-list news-points">
 <li>The cryptocurrency market lost nearly $1.25 billion on Thursday.</li>
 <li>Fed chair Jerome Powell announced hawkish predictions for 2025.</li>
 <li>Analysts believe the crypto market pullback is temporary.</li>
</ul>
The cryptocurrency market lost nearly $1.25 billion on Thursday following a hawkish statement from the U.S. Federal Reserve after the latest Federal Open Market Committee (FOMC) meeting. Fed chair Jerome Powell announced a 25 basis point rate cut, which should be positive for the digital assets market. However, things turned out differently because of Powell’s <a href="https://coinedition.com/feds-fomc-meeting-to-decide-economic-direction-for-2025/" rel="noopener noreferrer nofollow">2025 predictions</a>.
According to Powell, the Federal Reserve predicts higher inflation and only two interest rate cuts next year. The Fed chair’s follow-up statement shocked the crypto market, leading to massive declines in cryptocurrency prices. Bitcoin crashed over 7% in less than 24 hours to drop below $96,000.
<h2 class="wp-block-heading" id="h-crypto-liquidations-and-price-declines">Crypto Liquidations and Price Declines</h2>
Coinglass data shows <a href="https://www.coinglass.com/LiquidationData?ref=bitcoinalpha.nl" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s liquidation</a> was over $45 million. Ethereum, the second-largest cryptocurrency by market capitalization, had nearly $30 million in liquidation. Most top cryptocurrencies fell after the Fed’s hawkish statement. Dogecoin, the flagsh…
The post <a href="https://coinedition.com/crypto-markets-lose-1-25-billion-as-fed-warns-of-higher-inflation-in-2025/" rel="noopener noreferrer nofollow">Crypto Markets Lose $1.25 Billion as Fed Warns of Higher Inflation in 2025</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Markets Lose $1.25 Billion as Fed Warns of Higher Inflation in 2025

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