“🚨 Is the Fed turning its back on Bitcoin? Impact of Powell's statements on the crypto market 🚨”

🔥 The recent announcement by the Chairman of the U.S. Federal Reserve, Jerome Powell, has had a significant impact on the cryptocurrency market. Powell stated that the Fed is not authorized to hold Bitcoin, dispelling expectations that the central bank could include this cryptocurrency in its reserves.

💡 Impact on Bitcoin's price:

Following Powell's statements, the price of Bitcoin experienced notable volatility. In the hours after, the cryptocurrency fell from highs near $108,000 to approximately $98,760, representing a decrease of around 8.5%. Although it has shown signs of recovery, hovering around $101,000, it still reflects a decline of 2.2% in the last 24 hours. 💸

🚀 Repercussions on other cryptocurrencies:

The negative sentiment spread to other cryptocurrencies:

• Ethereum ($ETH ): Registered a decrease of 4.7% in the last 24 hours.

• XRP ($XRP ): Suffered a decline of nearly 6% in the same period.

• Solana ($SOL ): Experienced a reduction of 3.2%.

• Memecoins: These cryptocurrencies were the most affected, with drops around 7%. 

🌐 Future outlook:

Powell's statements have cooled expectations for a possible institutional adoption of Bitcoin by the Federal Reserve, leading to a reevaluation of optimism in the crypto market. This situation underscores the influence of the policies and statements of major financial bodies on the volatility of cryptocurrencies. 💭

What do you think about the Federal Reserve's stance on Bitcoin? 🤔

Do you believe this decision will affect the future of cryptocurrencies in the institutional realm?

💬 Share your thoughts in the comments!

🗣️ Remember that the crypto market is highly volatile. It is essential to stay informed and consider the risks before investing.