Bitcoin Remains Flat as Jerome Powell Highlights Fed Policy Challenges
Leading cryptocurrencies failed to break out on Tuesday, while stock markets retreated from recent highs following cautionary remarks from the Federal Reserve Chair.
This article has been summarized and translated using AI to help you practice reading and comprehension. While we strive for accuracy, some nuances may be lost in translation.
The cryptocurrency market experienced a downturn on Tuesday with Bitcoin dropping below $112,000 and Ethereum remaining range-bound between $4,100-$4,200. Trading volumes decreased significantly across major cryptocurrencies. The market saw over $260 million in liquidations within 24 hours.
Fed Chair Jerome Powell emphasized that monetary policy isn't predetermined and remains data-dependent, highlighting the ongoing challenge of balancing price stability with maximum employment. Traders are pricing in a 91% probability of a 0.25% rate cut at the upcoming meeting.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/09/47833521/bitcoin-flat-as-jerome-powell-flags-fed-dilemma-ethereum-dogecoin-xrp-also-stuck-analyst-fo