The article discusses Bitcoin's price drop below USD 116K following hawkish remarks from Federal Reserve Chairman Jerome Powell. The market has responded negatively to Powell's statements, which hinted at ongoing interest rate hikes aimed at curbing inflation. This has led to increased selling pressure on Bitcoin and other cryptocurrencies as investors react to tightening monetary policy. The situation reflects broader market concerns regarding the impact of high interest rates on economic growth and the crypto space. Additionally, the article indicates that regulatory perspectives are evolving alongside these market dynamics, which could further influence cryptocurrency values.

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