Bitcoin Plummets Below $109,000 After Fed Rate Cut — Classic ‘Buy The Rumor, Sell The News’ Reaction?

Bitcoin (CRYPTO: BTC) has plummeted below $109,000 after the expected Fed rate cut, prompting renewed debate over whether crypto traders once again fell for a “buy the rumor, sell the news” setup.

What Happened: According to on-chain data provider Santiment, while the rate cut was widely expected, Jerome Powell’s hawkish tone during the post-meeting press conference rattled markets.

The Fed Chair cautioned that another cut in December isn’t guaranteed, citing persistent inflation and limited data visibility due to the ongoing government shutdown.

Markets initially celebrated the policy move, but enthusiasm faded as …

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