Prices of the world's most popular cryptocurrencies declined following the United States stock market close as Federal Reserve Chair Jerome Powell revealed that the central bank does not expect conditions for interest rate cuts to be met for a "couple of years."
Powell was also reluctant to commit to a firm monetary policy path at the Fed's remaining meetings this year, and the uncertainty may have led traders to reevaluate the potential of assets they currently hold.
Bitcoin decreased by 1.53% to $25,539 at 4:16 pm ET. Ether fell by 3.26% to $1,682 a 4:17 pm ET, moments after landing at the lowest level since mid-March.
