The cryptocurrency market experienced a major shock last week as the total market capitalization dropped by over $300 billion. Bitcoin plummeted from a record high of $108,000 to $92,000, dragging down many altcoins such as Ethereum (-15%), XRP (-10%), and DOGE (-25%).

Fed Chairman Jerome Powell suggested slowing the pace of interest rate cuts due to rising inflation, triggering a wave of sell-offs in the market. He also emphasized that the Fed cannot hold Bitcoin as a reserve asset, which could impact Trump's plans.

Despite the market volatility, the community remains optimistic about the future of blockchain technology and cryptocurrency. 🌟