Is It All Over For the Bull Run? Rates Cuts Sink Crypto Markets – Here’s Why Crypto is Down

Ben Graham · Outubro 30

Retail markets are in despair, and analysts are asking why is crypto down after FOMC rates cuts failed to jump start price moves.

Crypto’s rally hit a policy reality check this week. A US rate cut, paired with a cautious message from the Federal Reserve, pulled Bitcoin, Ether, and most altcoins lower.

On Thursday, October 30, global crypto markets fell after the Fed cut rates by 25 basis points. Chair Jerome Powell warned another cut in December is “not a foregone conclusion.”

That comment shifted sentiment fast. By late trading, Bitcoin price slipped toward the $107,000–$109,000 band.

On the other hand, Ether eased to about $3,700–$3,900 as traders pulled risk across major venues.

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The pressure began a day earlier, when the Fed delivered its cut on Wednesday, October 29. The move alone would typically support risk assets.

But the message that followed mattered more. Treasury yields and the dollar moved higher, signaling that markets saw fewer near-term easing prospects.

The central bank lowered its target range to 3.75%-4.00% and said balance-sheet runoff will stop on Dec. 1. Still, Powell’s remarks cooled hopes of a second straight cut.

Data from CME’s FedWatch Tool shows odds of a December cut falling from almost certain to roughly two-thirds to 70%.

(Source: CME’s FedWatch Tool)

That shift pushed investors to unwind positions, weighing on crypto prices.

Bitcoin briefly climbed toward $110,000 before slipping, as traders reacted to the Federal Reserve’s latest signals.

The move erased more than $80 billion from the total crypto market value. Altcoins took a harder hit, with coins like XRP and SOL among the weakest performers.

Data from both spot and derivatives markets showed heavy liquidations, mostly clustered near the $109,000 area.

Stocks tied to the sector also cooled. Coinbase and Strategy (formerly MicroStrategy) pulled back alongside the rest of the market.

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Crypto Fear and Greed Chart

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The Fed’s statement confirmed a 25-basis-point cut. It also noted an operational change set for Dec. 1, when the central bank will stop quantitative tightening by reinvesting principal into Treasury bills.

Bitcoin price is trading near $108,000 after another pullback. Analyst Michael Van de Poppe shared a six-hour chart showing key price zones.

He said the latest move stalled at the $111,900-$112,000 range, which remains the main roadblock before Bitcoin can attempt a new all-time high.

He noted that this level is still the point at which the trend must break to continue moving higher.

The chart shows price drifting toward support near $107,000, an area where buyers have stepped in before.

If this level slips, Van de Poppe points to a wider demand zone around $103,000–$104,000. A move into that region would likely come from a liquidity sweep. The downside targets he marked are $103,000 and, in a deeper drop, roughly $100,700.

(Source: X)

Recent trading has been messy. Bitcoin pushed above $123,000 but slipped soon after, leaving a line of lower highs. That signals some short-term weakness. Sellers stepped in again around $118,000–$119,500, keeping the price capped.

Trading volume looks steady, meaning there’s no strong buying pressure during this pullback.

There’s still a key breakout zone near $119,500. A move back above that level would show that momentum is improving. For now, the broader view remains upbeat. Van de Poppe still expects strength in November and says dips can be worth watching. However, if Bitcoin price falls below the $107,000 area, the downside risk increases.

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