Following Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, Bitcoin (BTC) experienced a notable surge. However, the short-lived rally faded over the weekend, with Bitcoin dropping below $110,000 and altcoins following suit. While many factors contributed to this decline, analysts are providing explanations for the drop’s persistence and possible future trajectory. Bitcoin Analyst Rachael Lucas suggests profit-taking, technical resistance, and changing interest rate expectations played a role in Bitcoin’s recent retracement. Notably, she emphasized that the initial positive sentiment surrounding Powell’s speech faded as investors reassessed the likelihood of a September rate cut, fueling a downward shift in market momentum. US President Donald Trump’s announcement regarding Fed Chair Lisa Cook’s firing also contributed to investor unease, increasing concerns about the central bank’s political independence and casting a shadow on market confidence.