Bitcoin moved below the $22,000 level on March 8, as markets continued to react to U.S. Fed Chair Jerome Powell’s testimony. Speaking in front of the Senate Banking Committee, Powell said he expected rates to be higher than initially anticipated. Ethereum has also slipped on the news.
Bitcoin
Bitcoin (BTC) dropped below $22,000 on Wednesday, following yesterday’s comments from U.S. Federal Reserve Chair Jerome Powell.
Speaking yesterday, Powell stated that “the ultimate level of interest rates is likely to be higher than previously anticipated.”
BTC/USD fell to a low of $21,964.99 earlier in today’s session, a day after residing at a peak of $22,421.42.
Bitcoin chart by TradingView
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