The #US Federal Reserve (#FED ) was expected to cut interest rates by 25 basis points last night, and the Fed chairman was asked about $BTC at the press conference. It was noteworthy that the price fell by $100,000 after Powell's answer.
While Bitcoin fell below $100,000 overnight, one of the most talked about options was Jerome Powell's Bitcoin remarks. Donald Trump is offering Bitcoin reserves. Powell said, "The Fed does not have such a right or power. A law needs to be obtained from Congress, but we will not request a law."
Powell's words were perceived negatively by the markets. While Bitcoin fell sharply, it was seen at $98,000 overnight.
However, Powell's Bitcoin statement is not that negative. Because the Fed has no assets. In other words, the Fed does not hold gold and dollars. Therefore, it is not surprising that such a situation will occur for Bitcoin.
He spoke in the regions
As it will be remembered, Powell also made very important statements and Bitcoin rights in the past weeks. Responding to Bitcoin payments at an event he attended, the Fed chairman said, āBitcoin is not a rival of the dollar, but of goldā¦ā
