#FederalReserve Chair Jerome Powell has clarified that the central bank has no plans to participate in any government-led initiative to accumulate or establish a strategic reserve of Bitcoin. He emphasized that current regulations prohibit the Federal Reserve from holding Bitcoin and reaffirmed that there are no intentions to alter this policy.

Powell’s remarks highlight the Federal Reserve’s commitment to adhering to its existing mandates and avoiding direct involvement in cryptocurrency ownership. This stance reflects the institution's focus on maintaining its independence and neutrality concerning emerging digital assets like Bitcoin.

Meanwhile, the crypto market has experienced notable fluctuations. Bitcoin's value has dropped to $96,700, marking a 3.7% decline. Ethereum has fallen by 6.33%, trading at $3,397.82, while XRP stands at $2.2796. These movements might be attributed to broader market trends or the uncertainty surrounding regulatory positions.

For investors, Powell’s statement reinforces the importance of monitoring regulatory developments while navigating the volatile cryptocurrency landscape. This could also present potential opportunities for traders aiming to capitalize on short-term market shifts.

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