Bitcoin ($BTC) experienced a sharp decline of 5.7% following the comments made by Fed Chair Powell during the FOMC meeting on Wednesday. The Chairman indicated that there might only be two rate cuts anticipated for 2025.

This announcement sent ripples through the crypto market, influencing investor sentiment and raising concerns about potential future price movements. Market participants are keenly aware of how such developments can alter the landscape for digital assets.

Understanding the broader implications of monetary policy on cryptocurrencies remains a crucial area of focus as investors navigate through these tumultuous times.