Federal Reserve Chairman Jerome Powell delivered comments at a press conference after their recent meeting, stating that the economy is strong and officials can take their time with interest rate cuts. The Fed lowered interest rates by 25 basis points, a move anticipated by the market, which has been favorable for assets like cryptocurrencies. Bitcoin and other cryptocurrencies have seen gains in response to the low interest rates. Bitcoin rose by 2% to $76,259, while other cryptocurrencies such as Solana, ADA, Cronos, Jupiter, Pyth, Neiro, and GOAT also saw gains. The next Fed meeting is scheduled for December 17-18, with a 75% possibility of another rate cut according to CME Group's FedWatch tool.



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