The Fed has cut the key interest rate by 25 basis points as expected, but Jerome Powell's statements have negatively impacted the crypto market. He warned that the rate cuts in 2025 may be fewer after three consecutive cuts at the end of 2024 and emphasized that the U.S. "should not be allowed to own bitcoin". This caused Bitcoin to drop sharply from over $105,000 to below $99,000. Altcoins were also heavily affected, with many down double digits. Santiment suggests that this could be an overreaction and that the projects that have dropped the most may represent the best buying opportunities.