Bitcoin (BTC) and the cryptocurrency market have experienced a decline in recent days as US customs duties, which were suspended by US President Donald Trump, have become a current issue again.
Having fallen by 5.2% in the last week, BTC saw below $104,000, but with a slight recovery, it rose just above $104,000 again.
Despite this decline, the expectation of an increase in Bitcoin and altcoins continues, and the agenda of the cryptocurrency sector today includes the speech to be made by US Federal Reserve (FED) Chairman Jerome Powell.
Jerome Powell, who will speak at the 75th Anniversary Conference of the FED’s International Finance Division at 20:00 Turkish time, will seek signals regarding the ongoing uncertainties in the global economy and the effects of tariffs on the United States.
Global markets started the new week on a negative note, amid the uncertainty created by US President Donald Trump’s decision to increase steel tariffs and his accusations against China that it violated the agreement.
In addition, Powell’s potential comments on developments regarding tariffs and the US administration’s policies will also be closely monitored during the speech.
Powell is expected to touch on many issues, including monetary policy, and is also expected to address the resignation claims. However, for now, Powell’s resignation announcement remains a low possibility.
As is known, Donald Trump does not want FED Chairman Powell for a long time and expects him to resign. Because the FED’s failure to cut interest rates under Powell’s chairmanship causes Trump to demand Powell’s resignation.
*This is not investment advice.
