Bitcoin Plunges Following Powell Remarks, Market Reacts to Inflation Concerns

Bitcoin saw a significant price drop in the past 24 hours, plummeting to $111,684, raising concerns among investors as Fed Chair Powell’s speech at Jackson Hole fuels market uncertainty. This decline followed remarks from Fed member Hammack, which triggered fears of similar pronouncements from Powell. While altcoins showed relative resilience, the market remains watchful as Fed Chairman Powell delivers his keynote address today.