Bitcoin's drop of around 10% in the last 24 hours was dwarfed by ethereum and smaller, top ten cryptocurrencies that crashed back by between 15% and

"We’re not allowed to own bitcoin,” Federal Reserve chair Jerome Powell said. “The Federal Reserve Act says what we can own, and we’re not looking for a law change. That’s the kind of ...

The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction.

Bitcoin dropped for the fourth day, influenced by Jerome Powells hawkish comments and a 25-basis-point Fed rate cut. Cryptos faced a sharp correction, with significant declines across major altcoins.

The Fed has implemented another 0.25% interest rate cut with Jerome Powell highlighting economic stability as guidance for future cuts

Jerome Powell's comments have had an immediate impact on Bitcoin's market capitalisation, triggering a major fall after the Fed chair commented its position on holding the crypto asset.

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Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank has no desire to be involved in any government effort to hold large amounts of bitcoin. "We’re not allowed to own bitcoin,

Bitcoin (BTC), after managing to chart an all-new ATH of $107k last week, has taken a hit over the weekend, dipping down to the $92,000 range, before recovering again. Weak inflation figures and US Fed Chair Jerome Powell’s strong stance against crypto is believed to be driving this recent dip.

Bitcoin traded around the low 90s after failing to break the $96,000 resistance multiple times throughout the day. With an intraday low of $93751, the leading cryptocurrency did little to help push the overall cryptocurrency market capitalisation towards this cycle’s high of roughly $4 trillion.

Cocoa has outpaced the rise in the U.S. stock market and bitcoin, with prices for chocolate's main ingredient having nearly tripled in 2024. The rally shows little signs of ending, with cocoa's 2023 to 2024 marketing year having ended with the biggest global supply deficit in 60 years, according to ING.