Today, Powell's statement was just as bad as everything he says at these times, causing more selling pressure on #BTC and #altcoin .

Some people didn't quite understand that speech, which is always confusing, so I'll quickly simplify it...

He said;

"The economy is not sending any signal that we need to rush to cut rates,"

"The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully."

These statements are understood by the Market as a move away from the CERTAINTY that we will have new interest rate cuts in December, and thus raising DOUBTS as to whether we will have new Cuts.

Honestly, we weren't sure about this before Powell's speech, after all... we all know he's shaken by Trump's victory and Powell is SURE that if he doesn't resign from the FED, Trump will make his life hell, so to avoid humiliation, he will definitely leave his position... so it's likely he won't care much from now on!