Federal Reserve Chair Jerome Powell's recent remarks have caused Bitcoin's value to drop significantly, with the price decreasing from $89,500. These comments have stirred concern and uncertainty in the cryptocurrency marketplace.
Adding to the negative sentiment, the news of a lawsuit against the Securities and Exchange Commission (SEC) has exacerbated the downturn. This legal development has further dampened the bullish expectations of investors in the crypto market.
The combination of Powell's comments and the SEC lawsuit news has resulted in a challenging environment for Bitcoin, with the market experiencing heightened volatility and concerns over future price trends.
