The Bitcoin price has recently experienced a serious correction and has fallen by $13,000. 😮 Powell's statements at the last FOMC meeting scared US investors and $670 million was withdrawn from spot Bitcoin ETFs in one day.

After cutting interest rates by another 25 basis points, Fed Chair Powell said there may not be any more cuts in 2025. This was bad news for Bitcoin and altcoins. US investors withdrew from risky assets and there were record outflows from Bitcoin ETFs.