Major cryptocurrencies experienced a decline on Wednesday evening following Federal Reserve Chair Jerome Powell’s hawkish comments, which cooled expectations for an imminent rate cut. What Happened: The Federal Reserve maintained its benchmark fed funds rate range at 5.25%-5.5% after the initial Federal Open Market Committee gathering of the year. Market observers eagerly awaited indications of a potential rate cut, with many anticipating it to occur at the upcoming meeting in March. “Based on the meeting today,” said Powell at his post-meeting press conference, “I don’t think it’s likely that…

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