Bitcoin Falls Over 5% as Fed Holds Rates, Powell Cites Inflation at 2.8%

Bitcoin dropped more than 5% and Ethereum declined over 6% after the Federal Reserve kept rates unchanged, TradingView data show. Chair Jerome Powell said headline PCE inflation stood at 2.8% and core at 3.0%, above the Fed's 2% target, and stressed policy remains data-dependent with geopolitical risks too early to assess fully. His remarks on elevated energy prices tied to Middle East tensions reinforced a "higher for longer" outlook that pressures speculative assets, while XRP fell around 5.3%, Solana 5.7% and BNB 3.7% in synchronized selling across altcoins.