Notification: Get Real-Time News Alerts For Your Portfolio Today
Powered by
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
BTC DOMINANCE 0.0%
ETH DOMINANCE 0.0%
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
Trading Articles
Search for the latest articles on trading

Bitcoin drops after Powell says Federal Reserve ‘not allowed’ to own the cryptocurrency

admin
admin

admin

Full Bio

admin

Share

Bitcoin faced renewed pressure after Federal Reserve Chair Jerome Powell clarified that the central bank is “not allowed” to own cryptocurrencies. The statement, made during a congressional hearing, reignited concerns about regulatory stances on digital assets. Powell underscored the legal constraints on the Fed’s participation in crypto markets, which he described as highly speculative. Bitcoin prices fell nearly 2% to hover around $26,500, reflecting market sensitivity to his remarks.

Powell’s comments come as lawmakers debate the evolving role of digital currencies in the financial system. While some see Bitcoin as a hedge against inflation and an alternative asset, Powell emphasized that crypto lacks intrinsic value and does not align with the Fed’s mandate. His remarks were consistent with past statements cautioning against viewing Bitcoin as a stable store of value.

This dip follows a series of volatile weeks for the cryptocurrency market, as investors navigate mixed regulatory signals. With the Fed remaining firm on its position, Bitcoin enthusiasts face increasing uncertainty over institutional adoption. Analysts suggest that Powell’s statement could further cool institutional interest in cryptocurrencies, dampening short-term sentiment.

Bitcoin’s price volatility highlights broader concerns over crypto’s future amid regulatory scrutiny. The Fed’s stance, combined with global moves to tighten oversight, may limit the adoption of digital assets in traditional financial systems. For now, Bitcoin’s path forward remains tied to how regulators and institutions reconcile innovation with stability.

Subscribe to our Newsletter

Every week, we’ll send you the latest tips, tricks, reviews and advice on how to trade to a wealthier lifestyle

View more articles by

Related Articles

Read More
Read More
Read More
Read More
Read More
Read More

Brokers Review

No reviews found in this category.

Top Stories
GBPUSD (1)
GBP/USD trades with negative bias around 1.2425 area, US NFP report awaited
EURUSD (1)
EUR/USD weakens below 1.0400 as traders await US NFP release
NZDUSD
NZD/USD gains traction above 0.5650 ahead of US NFP release
USDINR (2)
USD/INR holds steady as traders brace for RBI rate decision
USDJPY (1)
Japanese Yen retreats against USD amid some repositioning ahead of US NFP
Stocks fluctuate as bond rally pauses ahead of volatile U.S
Stocks fluctuate as bond rally pauses ahead of volatile U.S. jobs report
Japanese household spending surges to highest level since 2022 amid wage growth
Japanese household spending surges to highest level since 2022 amid wage growth
Crude oil declines for the week as trade tariffs outweigh Iran supply risks
Crude oil declines for the week as trade tariffs outweigh Iran supply risks
Japanese yen climbs amid rate hike speculation as U.S
Japanese yen climbs amid rate hike speculation as U.S. jobs report approaches
Ethereum faces resistance near $2,817 as Pectra testnet launch nears
Ethereum faces resistance near $2,817 as Pectra testnet launch nears