Powell’s Hawkish Stance Drives Bitcoin Below $100K – Is the $100K Mark Under Threat?
Bitcoin experienced a significant drop below the crucial $100,000 mark, reaching a low of $98,839. This decline follows the Federal Reserve’s recent announcement about tighter monetary policy and fewer anticipated interest rate cuts. Powell’s dismissal of Bitcoin as a reserve asset adds to the uncertainty among investors and traders. Many are now questioning whether the $100,000 floor for Bitcoin can hold, considering the tightening market conditions and bearish technical indicators. Analysts recommend closely monitoring the market for further developments that could influence Bitcoin’s price trajectory.
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