Powell Drops a Bombshell on Bitcoin & Markets! šŸ’„

Hello, WealthWave family! Mr. WealthWave here to break down Jerome Powellā€™s latest market-shaking comments for you:

1ļøāƒ£ No BTC in Reserve: The Fed has officially shut down any notion of adopting Bitcoin as a reserve asset. Tough luck for the crypto dreamers!

2ļøāƒ£ Rate Cuts on Hold: Powell dampened hopes for aggressive monetary easing, announcing only two rate cuts in 2025ā€”far fewer than expected.

3ļøāƒ£ Inflation Battle Continues: The 2% inflation target remains elusive. Powell warned it could take two more years to achieveā€”and we could even see inflation creep up again in 2025.

šŸ“‰ Impact on the Market:

Bitcoin felt the pressure immediately, plunging below key support levels.

The broader markets, including the S&P 500, took a hit as traditional assets faced added volatility.

With the crypto crowd hoping for faster rate cuts, many investors chose to lock in profits instead of holding positions.