The Bitcoin price is currently experiencing a sharp decline, and the cryptocurrency community is questioning the cause. The decline is believed to be a result of hawkish statements from the Federal Open Market Committee (FOMC) and Federal Reserve Chairman Jerome Powell's speech regarding a slowdown in the rate of interest rate cuts. The FED's updated data suggests only two interest rate cuts in 2025, down from the previously expected four. Additionally, Powell's comments about the US Strategic Bitcoin Reserve potentially contributed to the decline. Following the interest rate decision, Bitcoin's price dropped approximately 3% and currently sits at $101,800.



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