Fed Official's Interest Rate Statement: Bitcoin and Altcoins Decline! - Coin Bulletin

After Cleveland FED President Beth Hammack’s remarks that interest rates could remain stable for a long time, Bitcoin fell from $98,300 to $96,500, and altcoins also lost value.

Cleveland FED President Beth Hammack said that it is likely that interest rates will be kept steady for a long time and there is no clear sign that inflation will reach the 2% target. Following these statements, Bitcoin price dropped from 98,300 dollars to 96,500 dollars, and a similar decrease was seen in the altcoin market.

Hammack, in his speech, expressed that the overall condition of the US economy is generally good, but the inflation risks are still upward. Hammack stated that the monetary policy is currently only “moderately restrictive,” and emphasized that the uncertainties in government policies are also an important factor for economic stability**. He also emphasized that evaluating the effects of any tariff changes will take time.

After Beth Hammack’s comments, selling pressure increased in the cryptocurrency market. The message that the Fed could keep interest rates stable for a long time caused investors to exit risky assets. While the Bitcoin price declined from $98,300 to $96,500, Ethereum (ETH) and other major altcoins also experienced value losses between 2% and 5%.