Bitcoin Falls Below $75,000 Amid Federal Reserve's Hawkish Tone

Federal Reserve Chair Jerome Powell announced his intention to remain on the board after his term ends in May, following the Fed's decision to maintain interest rates between 3.5% and 3.75%. According to NS3.AI, Powell cited legal and political pressures as reasons for his decision to stay rather than leave entirely. The announcement came as three Federal Reserve governors dissented, advocating for the removal of easing guidance. In response to the Fed's hawkish stance, Bitcoin's price dropped below $75,000.