XRP, SHIB In Red, where the Crypto market interacts with the last Powell comments

the Encryption He was in an early Wednesday session, and it appears in response to the recent statements made by Federal Reserve Chairman Jerome Powell. The majority of encryption assets, including Bitcoin, XRP and Shiba Inu, publishes losses per day as Federal Reserve Chairman Jerome Powell caution through the markets with his last statement.

On Tuesday letterFederal Reserve Chairman Jerome Powell re -committed the central bank to reduce inflation and suggested that policy makers are not hasty to reduce interest rates.

Powell’s comments on monetary policy were widely consistent with his previous views and those of his colleagues, who are struggling with a group of financial and monetary factors that make an unconfirmed environment.

Powell’s comments come in the first two appearances this week on Capitol Hill. It appears before the Senate Banking Committee on Tuesday and the Financial Services Committee of the House of Representatives on Wednesday.

The encryption markets interact

The markets have read the recent federal reserves as indicating that the prices will remain suspended, most likely during the summer, after dropping the standard borrowing level by a full percentage point in late 2024.

Powell stated that the current policy position, which contains the price of standard federal reserve funds ranging from 4.25 % to 4.5 %, allows flexibility. The Federal Open Market Committee kept the fixed rate during its meeting in late January.

Bitcoin (BTC) The price has decreased nearly 2 % over the past 24 hours, amid profit in the encryption market, which led to more than $ 173 million of upward bets. The total references amounted to $ 229 million in the past 24 hours, with 120,197 traders liquidating.

The largest part of the cryptocurrency has witnessed a decrease in the past 24 hours; XRP and Shiba Inu recorded more than 3 % losses, and other major encrypted currencies such as ETHEREUM, Cardano and Solana. The losses of Dogecoin, Stellar, Chainlink and Toncoin were reported between 3 % and 6 %.