Bitcoin Price Drops 2.5% After Fed Chair Powell’s Tariff Warning

Bitcoin's rally towards $86,000 reversed during U.S. trading on Wednesday after Federal Reserve Chairman Jerome Powell spoke about the impact of President Trump's tariffs.

Powell indicated that announced tariff increases are larger than expected.
This could lead to higher inflation and slower economic growth, resembling stagflation from the 1970s.
The price of bitcoin (BTC) dropped approximately 2.5% after his remarks, trading at $83,700.
Over the past 24 hours, BTC is down 1.5%.
U.S. stocks also declined, with the Nasdaq falling 3.4%.