Bitcoin Sells Trump-Xi Deal, Fed Rate Cut: Is A Breakdown To $93,000 Next?
Bitcoin (CRYPTO: BTC) is trading below $108,000 after the Federal Reserve’s 25-basis-point rate cut failed to lift markets, with charts pointing to deeper losses.
Fed Rate Cut Fails To Wake Up Bitcoin Price
The Federal Reserve reduced interest rates by 25 basis points to a range of 3.75%–4.00%, marking its first cut in months.
The move, widely expected, reflected policymakers attempt to balance slowing inflation with emerging economic weakness.
Despite the policy shift, markets barely reacted, as traders had already priced in the decision ahead of Wednesday’s announcement.
Analysts said the muted response stemmed from expectations that the Fed would act cautiously through year-end.
U.S. equities traded mixed, with the S&P 500 (NYSE:SPY) flat at 6,890, Dow Jones slipping 0.16%, and the Nasdaq Composite up 0.55%.
10-year Treasury yields edged to 4.10% and the global crypto market cap fell 4.2% to $3.64 trillion.
Powell’s Warning Rattles Markets And Crypto Traders
Following the meeting, Fed Chair Jerome Powell emphasized that another …
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