The price of Bitcoin today, December 19, 2024, is showing a significant drop of more than 2%, bringing the asset back to the US$ 102,000 zone. Yesterday, the asset and the cryptocurrency market began a sharp decline in response to comments made by the chairman of the Federal Reserve, Jerome Powell.
Powell announced on December 18 that interest rates would be adjusted and made cautious remarks about the economic future. This revelation not only caused the US stock market to tumble but also had a direct impact on cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Following a 25 basis point interest rate cut announced on Wednesday, Bitcoin experienced a significant drop, falling by almost 5%. Prior to the Fed’s press conference, the leading cryptocurrency had reached a new record high above $108,000 but soon retreated to $100,400.
Renowned cryptocurrency expert Ali Martinez analyzed the Fed Chairman’s recent speech, emphasizing that the real market mover was Powell’s comment on “rapprochement.” “During his