Bitcoin has declined to the level of 109,800 dollars.

Bitcoin's Decline and Market Reactions

Bitcoin price has dropped to around $109,800 in response to Jerome Powell's statements. The comments from Federal Reserve Chairman Powell negatively impacted the demand for Bitcoin Exchange-Traded Funds (ETFs).

Additionally, it has been observed that the interest of United States investors in cryptocurrencies is cooling down. Significant outflows have been experienced in spot Bitcoin ETFs, as institutional investors entered a profit-taking phase.

Sharp Decline in Solana

Meanwhile, the price of Solana fell by 8% despite the launch of spot Solana ETFs in the United States. This situation has erased Solana’s annual gains.