Crypto Market Plummets Ahead of Powell’s Speech: What to Expect for Bitcoin, Ethereum, and Altcoins

Bitcoin prices plummeted ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech today. The crypto market experienced a significant sell-off, pushing BTC below $86,500 and wiping out over $144 billion from the total cryptocurrency market in just a few hours. Ethereum, XRP, and Solana followed suit, dragging altcoins into a downward trend. Traders are closely watching Powell’s remarks at 4:00 pm ET, as his statements could significantly impact Bitcoin and altcoin prices for the coming months.