BITCOIN

Bitcoin was back in the red on Wednesday, as U.S. Federal Reserve Chair Jerome Powell called for more regulation in decentralized finance (defi), citing “structural issues” as a key reason. The token fell below $19,000 on the comments, moving closer to a key support point as a result. Ethereum also slipped following yesterday’s rebound, with the price back below $1,300. Bitcoin Bitcoin ( BTC ) was back in the red on Wednesday, as markets reacted to comments from U.S. Federal Reserve Chair Jerome Powell. Speaking on Tuesday evening, Powell stated that more regulation is needed in the crypto market, with recent declines in price highlighting “structural issues.” In his comments , Powell said of the current relationship between defi and traditional finance: “Ultimately that’s not a stable equilibrium and we need to be very careful about … how crypto activities are taken within the regulatory perimeter.” Following the remarks, BTC /USD slipped to an intraday low of $18,553.30 earlier