BTC, ETH Stumble on Fed Caution as Options Expiry Looms: Crypto Daybook Americas
By Francisco Rodrigues (All times ET unless indicated otherwise)
The crypto market is struggling to find stable ground after Federal Reserve Chair Jerome Powell, speaking after the central bank cut the interest rate by 25 basis points, suggested another reduction in December isn’t guaranteed.
Bitcoin is down 2.5% over the last 24 hours to $110,200, while the broader market as measured by the CoinDesk 20 (CD20) index lost 1.7%.
While Wednesday’s reduction was expected, Powell’s hesitancy about further easing sparked a pullback in risk assets. The move came even as President Donald Trump signaled trade tensions with China are easing.
The turbulence led to more than $820 million of crypto market liquidations over the last 24…
