Bitcoin Slides Below US$109,000 As Fed Caution Weighs On Crypto Rally
Bitcoin and Ethereum fell sharply on Oct 30 as renewed caution from the US Federal Reserve (Fed) cooled risk appetite and triggered heavy selloffs across digital assets.
At the time of writing, Bitcoin slipped 1.4% to around US$109,000, while Ethereum dropped 2.7% to US$3,830, retreating from the key US$4,000 mark.
The pullback followed Fed Chair Jerome Powell’s warning that further rate cuts were “not guaranteed”, erasing optimism after the recent 25-basis-point cut.
The global crypto market cap fell below US$4 trillion, while US$1.1 billion in leveraged positions were liquidated in 24 hours as traders unwound bets on a continued rally.
Analysts say Bitcoin is now consolidating between US$110,000 and US$118,000,…
