As reported by MarsBit, Federal Reserve Chair Jerome Powell's remarks on October 30 indicated that a December rate cut is not a certainty, causing market expectations to shift and leading to a sell-off in risk assets. The probability of a December rate cut dropped from 92% to 70% following Powell's statement. In response, Bitcoin briefly fell below $110,000, Ethereum dropped to $3,820, and Solana dipped below $190. Glassnode noted that if Bitcoin fails to reclaim $113,000, it could fall to $88,000. Meanwhile, the Bitwise Solana Staking ETF (BSOL) saw a second-day trading volume of $72.4 million, outperforming other Solana ETFs.
Fed Rate Cut Uncertainty Pressures Crypto Market, Bitcoin Drops Below $110K
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