It was a *wild* night for the crypto world. The constant news from the FED caused a huge panic and many traders lost money especially those who continued with high leverage and without stopping losses. Over $300 million in leveraged orders were liquidated in the last hour alone!
Here are the main news from the FED:
- **Jerome Powell** said that the FED is *not allowed* to hold Bitcoin and that any decision by the US government to do anything in this direction is up to Congress. There are no plans from the FED
- The FED will continue to reduce public bonds and tighten the money supply, despite lowering interest rates.
- Powell predicts that 2025 will be a great economic year and that a recession has been avoided.
The market panicked last night and altcoins are in the red. Those who hold crypto woke up to sad accounts this morning. But the real pain hit those who used leverage – if you didn’t cut your losses, you could have lost everything!
But, those of you holding $ (cash) are probably just sipping water, grinning, watching the chaos unfold: “The market is crashing? Eh, I still have money.”
**Bright Spot:** Powell's optimistic outlook for 2025 + a potential Trump presidency, a strong BTC supporter, could kickstart a huge crypto boom.
2025 could be the year of economic recovery, with the “Trump effect” pushing the crypto market to new heights. So, for those who believe: today’s bottom could be tomorrow’s top! Your patience will pay off.
This market rewards those who believe in the future! Get ready for the waves to come!