The press conference of the head of the U.S. Federal Reserve, Powell, has concluded. It turned out to be the most 'bloody' in recent times.

The press conference of the head of the U.S. Federal Reserve, Jerome Powell, has concluded. It turned out to be one of the most 'bloody' for the stock and crypto markets in recent times. This does not change the market trend, but it forced many out of positions due to stop-losses - some at breakeven, some at a loss. And some were even liquidated.

One of the strongest impulses in the crypto market was when Powell said that the Fed cannot own Bitcoin and form reserves from it. The drop in #BTC after the announcement of the rate and Powell's speech was -3.78%.

The key takeaway from the journalists' responses:

- We have already reached the point where it is necessary to slow down the pace of rate cuts.

- Inflation returned to previous levels in November. Housing market inflation is steadily declining. Inflation for goods has generally returned to pre-pandemic levels.

- We want to see progress in inflation to think about further cuts and a stable labor market.

- The rise in inflation is likely the main factor for new forecasts. The most significant risks and uncertainties are centered around inflation.

- The driving force behind a slower pace of rate cuts is strong economic growth and low unemployment. Also, higher inflation this year and next.

- Achieving 2% inflation may take another year or two.

- A reduction in core inflation to 2.5% next year, as projected, would be significant progress.

- We still have work to do on inflation; for that, policy needs to remain restrictive. We believe our policy is working and having the desired effect.

- The risks of a labor market downturn have decreased, but it is still cooling. I don't think we need further cooling to bring inflation down to 2%.

- The labor market is not cooling off to a concerning extent.

- The Fed can ease policy faster if the labor market unexpectedly weakens or inflation falls faster.

- Wages are at a healthy and increasingly stable level.

- Today's rate forecasts do not concern the current economic situation.

- Everything depends on forecasts for macro data for next year.

- It is too early to assess the impact of Donald Trump's new tariffs on the U.S. economy. We do not yet know which tariffs the new president will raise and on which countries.

- The U.S. has a strong economy, there are no reasons for recession.

- Geopolitical risks are still present.

- I expect good economic growth in 2025.

- The Fed cannot own BTC, we are not allowed to hold Bitcoin, I don't think that will change.

The key takeaway is that the Fed is refocusing its attention from the labor market to inflation. Accordingly, these data will have a stronger impact on the markets at the moment of publication.

Both the crypto market and the stock market are falling.

The #BTC rate has transitioned into a sustained downtrend on the 4-hour timeframe, having already reached the target of $102,088, with remaining targets of $100,542 and $98,997. On this timeframe, it is the second of three candles of potential lows. For bulls, it is important to turn around and defend the psychological level of $100,000.