Cryptocurrency Market Update: Bitcoin and Altcoins Face Pressure After Federal Reserve Comments
Bitcoin and altcoins are experiencing a decline in value following comments from the Federal Reserve suggesting that interest rate hikes could continue into 2024. Federal Reserve Chair Jerome Powell’s recent speech emphasized the need to address high inflation rates, indicating the likelihood of prolonged higher interest rates. Although United States equities markets have recovered from intraday lows, uncertainty remains about the future direction of the markets.
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