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 thing for Congress to consider, but we are not looking for a law change at the Fed."

Fed rules out Bitcoin reserves as Chair Powell cites legal constraints. Bitcoin drops after rate cut, while Trump’s BTC reserve plan faces scrutiny.

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.

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Bitcoin price has sharply declined today after Fed Chair Jerome Powell signaled a hawkish move ahead, but experts remained optimistic about BTC's future trajectory.

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

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.

Federal Reserve Chair Jerome Powell stated the central bank does not wish to partake in government efforts to establish a bitcoin reserve. While speculative values rose post-election, Powell, alongside European officials,

Powell said that the Federal Reserve Act does not allow the central bank to hold Bitcoin, leaving the decision to Congress.

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,