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🚨 Bitcoin Drops 5% After Powell’s Words
$BTC faced a sudden 5% dip, triggered by Federal Reserve Chair Jerome Powell’s latest remarks. Powell made it clear that the FED cannot hold Bitcoin reserves under current laws, putting a damper on speculation about a U.S. Bitcoin treasury.
This shift in sentiment followed the Fed’s interest rate cut, a move many thought would support riskier assets like cryptocurrencies. Instead, Powell’s comments introduced doubt, reminding markets of the challenges ahead for Bitcoin’s integration into national strategies.
This does not mean the reserve will never materialize though – it only suggests more hurdles and a longer timeline ahead. And Bitcoin has proven its resilience over the years, with or without institutional support.
