Bitcoin Tumbles Below $116K as Jerome Powell Delivers Hawkish Remarks

Bitcoin experienced a significant decline, falling below the $116,000 mark, following the delivery of hawkish remarks by Jerome Powell, the Chair of the Federal Reserve. This unexpected downturn in the cryptocurrency market was largely influenced by the implications of Powell's comments, which suggested tighter monetary policies and an unwavering stance against inflation. Investors reacted to the news with caution, leading to a substantial sell-off and a sharp drop in Bitcoin's value, highlighting the ongoing volatility and sensitivity of digital currencies to macroeconomic signals and central bank policies. source: https://www.coindesk.com/markets/2025/07/30/bitcoin-tumbles-below-usd116k-as-jerome-powell-delivers-hawkish-remarks