Powell: Fed Won’t Hold Bitcoin ($BTC ) or Seek Policy Change

Federal Reserve Chair Jerome Powell stated Wednesday that the Fed has no authority to hold bitcoin and no plans to seek a law change to allow it. His comments came after speculation about a U.S. Strategic Bitcoin Reserve, an idea floated by President-elect Donald Trump.

"We're not allowed to own bitcoin," Powell said, adding that such decisions are for Congress to consider. His remarks caused a dip in bitcoin’s value, which had surged past $100,000 on hope of pro-crypto policies under the new administration.

Proposals for a bitcoin reserve, including one by Senator Cynthia Lummis, face challenges, including Congressional approval and opposition from the Fed, which remains skeptical of cryptocurrency due to its volatility and limited utility.

European central banks share this skepticism, dismissing bitcoin as too volatile for reserve use. As crypto debates continue, the Fed remains focused on regulating banking interactions with crypto rather than holding it directly.

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$BTC
TC Long Liquidation Alert!

🚨 Market Shake-Up! 🚨

A massive $5.97K long position was just liquidated at an unusual price level of $106,600. This unexpected event raises questions about possible market anomalies or misreported data.

Key Insights:

Market Volatility: A liquidation at such a level suggests erratic price action or the presence of low-liquidity zones.

Whale Activity: Could this be a calculated move by large players triggering stop losses and manipulating the market?

Risk Reminder: Leverage amplifies gains but also magnifies risks—caution is essential during volatile periods.

What’s Next for Bitcoin?

Is this a technical glitch, a strategic whale move, or the start of more market chaos? The crypto world remains as unpredictable as ever!

Share your thoughts below!

#CryptoNewss #Bitcoin #MarketCorrectionBuyOrHODL #BinanceSeason $BTC

Bitcoin ($BTC ) Price Prediction Overview

Bitcoin's price continues to experience significant fluctuations, driven by macroeconomic factors and evolving market dynamics.

Key Drivers of Price Movements:

1. Federal Reserve Policies: Recent interest rate decisions by the Federal Reserve have influenced investor sentiment, impacting Bitcoin's price trajectory.

2. Institutional Adoption: The rising involvement of institutional investors and the launch of Bitcoin ETFs have significantly shaped market movements.

Price Predictions:

Short-Term Outlook:
Analysts present mixed views on Bitcoin's near-term future. While some anticipate a surge to approximately $112,000 in the coming weeks, others predict sustained volatility in the market.

Long-Term Projections:
Predictions for Bitcoin's price by 2025 range from $150,000 to $200,000, depending on factors like regulatory changes, technological adoption, and global market sentiment.

Important Considerations:

Cryptocurrency markets are inherently volatile and subject to external influences such as regulatory developments, technological innovation, and macroeconomic trends. Price predictions are speculative and should be approached cautiously as part of a diversified investment strategy.

Disclaimer: This content is for informational purposes only and should not be construed as financial advice. Conduct thorough research and seek professional guidance before making investment decisions.

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$BTC

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