Jerome Powell

Bitcoin

<p>At the San Francisco conference, Jerome Powell confirmed that interest rates would remain unchanged as long as the inflationary situation does not improve. This announcement is weighing on the crypto market, with Bitcoin dropping by 1.35% in an hour.</p>
<h2 id="h-the-fed-stands-firm-on-rates">The Fed stands firm on rates</h2>
<p>The verdict is in: the Fed will maintain its rates at the current level until inflation shows tangible signs of slowing down. Jerome Powell was firm, hammering home that this restrictive policy will remain in place “for longer” if the situation demands it. An unambiguous message that reflects the central bank’s top priority: to curb the rise in prices.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This resolve of the Fed to hold steadfast is putting enduring pressure on the cryptocurrency market. Deprived of a prospect of monetary easing, Bitcoin sees its outlook darkening. Investors understand that the tightening of financing conditions will weigh heavily on risky assets for a long time, limiting the potential rebound of the king of cryptos.</p>
<p>With an inflexible Fed, the evolution of Bitcoin will now more than ever play out on the inflation front. The upcoming releases of the PCE price index will be crucial.</p>

The Fed unyielding on rates, Bitcoin under pressure!

Table of Contents

Cointribune EN

Other articles published on Mar 29, 2024

SBF bags 25 years in jail – Now what about Gary, Nishad, Caroline?

Specialists Unveil Predictions for Dogwifhat & BONK Prices: Influence on Milei Moneda ($MEDA) Mem...

Litecoin and Cardano traders eye Kelexo amid market volatility

Dogecoin Enters New Trend Set To Drive Price To $0.3: Analyst

Under-the-Radar Altcoins Ready to Blast Off

This Popular Altcoin is Poised for a 1000% Jump to Hit $100 in 2024

Join our free newsletter for daily crypto updates!