Bitcoin Slides Below $43K as Powell Comments Dash Hopes of Imminent Fed Rate Cut
• Bitcoin dipped below $43,000 and crypto majors like ETH, ADA, DOT fell 3%-4% as Fed Chair Powell tempered hopes of a March rate cut • Bitcoin remains rangebound between $42,000 and $44,000 with unclear direction according to Swissblock • Powell said a March rate cut is "unlikely" based on current data, dashing market expectations of cuts beginning soon • Risk assets including cryptos sold off sharply after Powell's comments, with BTC falling to $42,300 and the CoinDesk 20 index declining nearly 3% • Analysts say bitcoin's downside may be limited as $42,000 and below $40,000 could act as key support levels for buyers to step back in