Coin-Turk 10 minutes ago
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The arrival of Trump in office initially seemed to bode well for cryptocurrencies, evidenced by a surge in January. However, this upward trend in Bitcoin 
$95,793 prices soon reversed, leading to a continued decline in altcoins since mid-December. Many have reached new lows against the BTC ($95,540.60) pairing, as recent remarks from Powell indicate further challenges ahead.
Powell’s Commentary
Powell’s recent Congressional testimony is ongoing and highlights the need for a restrictive monetary policy. He mentioned that Trump’s tariffs may necessitate new adjustments in interest rates. Current inflation data shows a significant rise, and the tariffs could adversely affect commodity prices in the short term. As a result, Powell hinted at the potential for interest rate hikes, delivering an early negative signal to the market.
For cryptocurrency traders, any interest rate hikes this ye…
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