Bitcoin (BTC) price has decreased by 4.2% with sharp sales since yesterday evening.
Bitcoin 21.00 CET yesterday evening what he saw in the waters $43,750 within a few hours with the sharp sales coming from the levels 4.2% decrease lived. Bitcoin price, to $41,883 While it was declining, serious retreats were also observed in major altcoins.
Ethereum price $2,240 While finding support at the level Cardano (ISLAND), $0.487, Solana (LEFT), from $93 It got a reaction.
What is the reason for the decline?
Yesterday US Federal Reserve (FED), Announcing the first interest rate decision for 2024 at 22.00 CET 5.25%-5.50% He decided to keep it constant. With the announcement of interest rates, the dollar index (DXY) moved upwards, while Bitcoin experienced a slight decrease.
Then the chairman of the Fed Jerome Powell It is estimated that the decline has sharpened due to the statements made. In his statements, Powell stated that inflation to 2% While showing his determination to reduce interest rates, he emphasized that it may take a while longer for interest rate cuts to come. Answer to the question following Powell’s statements “I do not expect a discount in March” to say There is a sharp decline in risk assets such as Bitcoin, gold, silver and cryptocurrencies. led.
The statement also reduced the estimated rates of the potential interest rate increase in March that the market expected. According to FedWatch data 65% before speaking The interest rate cut expectation decreased to 34.5% after the announcement.
Swissblock analysts, Bitcoin’s 44 thousand to 42 thousand dollars He stated that the decline may be limited, stating that the
According to CoinGecko data bitcoin, while writing From $42,149 is being traded.