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**# Insights from Fed Chairman Powell: What Is the Crypto Market’s Response?**
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Federal Reserve Chairman Jerome Powell stated in a speech on Friday that the central bank is in a “wait-and-see” position before making any additional changes to interest rates.
Speaking at a policy forum in New York, Powell stated that the Fed is focused on distinguishing between “signals and noise” as the outlook changes. “We don’t need to rush to make decisions,” he said, echoing recent statements in which he and his colleagues urged patience with monetary policy in the face of significant uncertainty.
These statements appear to contradict rising market expectations for interest rate reductions this year. According to the CME Group’s FedWatch Tool, traders have already factored in cuts totaling three-quarters of a percentage point by the end of the year, beginning as early as June. Powell’s remarks, however, indicate that the Fed will wait and watch before deciding on further policy easing.
On the same day as the Fed Chair’s remarks, the Labor Department announced that nonfarm payrolls increased by 151,000 in February, slightly lower than market expectations.
## Crypto Market Response
The cryptocurrency market is declining as traders process the Fed’s recent comments on interest rate cuts. According to CoinGlass data, the crypto market has already experienced $493 million in liquidations in the last 24 hours. This indicates increased volatility and potential risk aversion among investors in response to the Fed’s cautious approach.
The cryptocurrency meeting, which was greatly awaited, came to an end on Friday, leaving crypto dealers dissatisfied and dealing with discouraging results. While Bitcoin (BTC) demonstrated comparable toughness, other cryptocurrencies such as Ripple (XRP), Cardano (ADA), and Solana (SOL) saw sharper decreases. Toncoin (TON) Value Forecast for March 26th
A number of altcoins, including SUI, HBAR, Raydium, and Jito, saw drops ranging from 9% to 12%. Cardano’s ADA fell by more than 8%, while Solana’s SOL dipped 4% to $138 in early Saturday trading. Ripple’s XRP reduced by 8.11% in the last 24 hours, resolving at $2.33, nearly 20% down from its high earlier in the week. This decrease follows the initial statement of cryptocurrency reserves.
Bitcoin, however, did relatively well, trading at $85,950 with a 3.38% decrease over the previous 24 hours, showing significant resistance compared to the broader altcoin market sell-off.
In general, the cryptocurrency summit failed to provide the anticipated increase, leaving dealers with a feeling of frustration.
