Article Summary

Bitcoin and the broader cryptocurrency market experienced a dramatic selloff following Federal Reserve Chairman Jerome Powell's unexpectedly hawkish stance during his post-FOMC press conference. The leading digital asset plunged as Powell cast doubt on a December rate cut, stating it's "far from a foregone conclusion" despite traders pricing in a 90% probability of monetary easing. This cryptocurrency market downturn highlights Bitcoin's continued sensitivity to Federal Reserve policy and macroeconomic factors. The steep decline demonstrates how traditional monetary policy decisions significantly impact digital assets, blockchain investments, and the broader DeFi ecosystem. Powell's hawkish remarks caught crypto traders off-guard, triggering widespread selling pressure across major cryptocurrencies. The market reaction underscores Bitcoin's evolution from a purely speculative asset to one increasingly correlated with traditional financial markets and interest rate expectations. As institutional adoption grows, cryptocurrency prices remain vulnerable to Federal Reserve communications and monetary policy shifts. This volatility reinforces the importance of risk management for crypto investors navigating an environment where central bank policy continues to drive digital asset price movements and market sentiment.