Analysis: Today's BTC decline may be due to Federal Reserve Chairperson Powell's "no rush to cut interest rates"

According to Cointelegraph's analysis on the X platform, BTC fell today or because Federal Reserve Chairperson Powell said "there is no rush to cut interest rates". It is reported that Powell said in his speech in Dallas, Texas that "the economy has not sent any signal that we need to cut interest rates in a hurry". Before the Federal Reserve cut interest rates twice in September and November, the rate cut was 50 basis points and 25 basis points respectively. The Federal Reserve's next interest rate decision will be announced on December 18. Powell added that "the strength of the economy we are seeing now allows us to make decisions cautiously. Ultimately, the direction of policy rates will depend on the upcoming data and how the economic outlook plays out ", according to the market. After Powell's speech, bitcoin prices fell by about 2.79% to $86,979, but have since recovered slightly.