Powell's FOMC press conference pours 'cold water' on Trump's roadmap
"The Fed cannot and will not hold BTC in the future"
Cryptocurrency market fails to recoup losses despite afternoon rebound
);)
At the press conference following the FOMC meeting, Powell announced a 0.25%p rate cut, but along with the outlook for a reduction in rate cuts next year, he poured cold water on President-elect Trump's roadmap, which had promised to strategize as an asset.
When asked about plans to accumulate as a strategic asset, Powell said, "The Fed is not allowed to hold by law" and "will not pursue a change in the law." This directly refuted President-elect Trump's plan to strengthen the U.S. economy through .
In response to Powell's remarks, , which had been setting new highs with the 'Trump power', fell about 5%, breaking the $100,000 level, and major altcoins recorded a decline of more than 5%.
The and cryptocurrency market, which plummeted in the morning of the 19th, rebounded in the afternoon due to inflows of buying pressure. As of 1:50 pm on the 19th, based on CoinMarketCap, recorded $100,828. Despite the afternoon rebound, major altcoins such as , , and failed to recoup the losses incurred in the morning.
