🔴Bitcoin began to fall amid the publication of negative comments by Fed Chairman Jerome Powell about the formation of a BTC reserve in the United States. According to him, under current conditions, the regulator cannot organize the storage of cryptocurrency and does not strive to do so, since the implementation of the project will require a change in current legislation.
🔴On the evening of December 18, Bitcoin began to decline. BTC failed to maintain the $100,000 level. At one point, Bitcoin fell to $98,800. After that, the coin began to recover.
🔴The initiative to form a Bitcoin reserve in the United States was proposed by Donald Trump, who won the 2024 presidential election. Hints from the Fed that the initiative is unlikely to be implemented are, on the contrary, a bearish signal.
🔴The Fed cut the rate for the third time in a row. This time, it was lowered by 25 basis points - to 4.25-4.5% per annum.
🔴For the crypto market, the reduction of the Fed's key interest rate is positive news, as the changes increase the attractiveness of high-risk assets. At the same time, Powell's hints that the regulator's movement towards lowering the rate will not be so sharp negatively affected the mood of investors.