[LIVE] Crypto News Today, October 15 – Powell’s QT Comment Fails To Lift Bitcoin Price As ZORA, COAI And USELESS Show Strength: Best Altcoins To Buy
Federal Reserve Chairman Jerome Powell said on Tuesday that the U.S. central bank may soon reach the end of its balance sheet reduction program. However, Bitcoin continued to trade lower around $112,600, extending its weekly decline by more than 7%. The weakness in BTC has led traders to look for the best altcoins to buy, as capital begins rotating toward smaller and more active tokens.
The Federal Reserve’s quantitative tightening, which began in 2022, has reduced the balance sheet from $9 trillion to $6.6 trillion.
Our plan is to stop balance sheet runoff when reserves are somewhat above the level we judge consistent with ample reserve conditions
Powell said during his speech at the National Association for Business…
