Another interest rate cut in December “is not a foregone conclusion,” according to Federal Reserve chairman Jerome Powell. That comment sparked a sell-off in stocks–and equities weren’t the only “risk on” asset that took a tumble.
Bitcoin prices, which were already down Wednesday, fell even further during Powell’s press conference.
Bitcoin prices tumbled 3% to about $110,000 Wednesday afternoon. The prices of two other major cryptocurrencies, ethereum and XRP, fell to their lowest levels of the day following Powell’s comments.
