Jerome Powell's remarks on tariffs and inflation expectations led to a swift market reaction, causing Bitcoin to drop to $115,800, with altcoins experiencing even larger losses.
Following Federal Reserve Chairman Jerome Powell's comments about inflation risks due to tariffs, Bitcoin's price fell nearly 2% to $115,800. The Fed maintained interest rates at 4.25%-4.5%, but Powell's statements unsettled markets, leading to declines in altcoins like Ethereum and Solana, each dropping nearly 4%.