The altcoin market showed minimal reaction following remarks from US Federal Reserve Chair Jerome Powell, who suggested there was no rush to implement further interest rate cuts this year. Despite the Fed's announcement being perceived as negative for crypto, altcoins displayed resilience, with some even reporting gains. Analyst Matthew Hyland noted that the lack of a significant sell-off could indicate that the market might have already anticipated this news. The Altcoin Season Index remained at 43, suggesting a tilt towards Bitcoin dominance. Powell emphasized the strength of the US economy, stating that there was no immediate need to change interest rates, which traditionally affects liquidity and investor attractiveness. While analysts are divided on the implications for an upcoming 'altcoin season,' the prevailing sentiment suggests that the market may be stabilizing after recent downturns, with many quality altcoins having lost much of their value from late 2024. Overall, the market sentiment leans towards cautious optimism amidst uncertain monetary policies.

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