Yesterday, BTC dropped from $73,000 to $71,000 after encountering resistance. The decline in BTC price seems to follow the fall of the US stock market, likely due to the worsening Middle East situation and investors seeking safe havens ahead of the Federal Reserve meeting. The interest rate remained unchanged as expected, with the market also anticipating a rate cut in 2026. Therefore, there was little reaction after the rate announcement, and even after Powell’s speech, there was no significant volatility, since he is about to step down as Fed Chair. Everyone is waiting for the new chair to take office before reassessing policy changes.
What’s more concerning is that Powell repeatedly emphasized during the press conference that the US labor market, Middle East energy crisis, and tariff issues are making decision-making difficult for the Fed. Especially with oil price fluctuations making inflation hard to predict, the US could face a supply crisis, which would influence the Fed’s decisions. This suggests potential economic uncertainties in the US. If the economy worsens, it could impact both the stock and cryptocurrency markets.
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