"Bitcoin accelerated its decline on Tuesday, slipping toward USD 104,000, its lowest level since the previous month, as cautious remarks from Federal Reserve officials dampened risk appetite across markets. Speaking Monday, San Francisco Fed President Mary Daly said she supported last week's rate cut but preferred to "keep an open mind" regarding the December meeting, emphasizing that while inflation remains above 2%."
"Similarly, Fed Governor Lisa Cook expressed openness to further cuts but reiterated a data-dependent stance, stressing that "every meeting, including December's, is live." These measured comments reinforced expectations for a slower pace of monetary easing, weighing on risk assets such as Bitcoin."
"At the same time, investment flows remained negative. Bitcoin ETFs recorded USD 186 million in outflows on Monday, marking the fourth straight session of redemptions and signalling sustained investor caution. Without a turnaround in fund flows or stronger macro signals, Bitcoin may continue testing lower support levels."
Bitcoin moved down toward USD 104,000, hitting its lowest level since the previous month as Fed comments reduced market risk appetite. San Francisco Fed President Mary Daly said she backed the recent rate cut but would "keep an open mind" on December given inflation remains above 2%. Fed Governor Lisa Cook signalled openness to additional cuts while stressing each meeting is data-dependent. Those measured remarks reinforced expectations for slower monetary easing and pressured risk assets. Investment flows remained negative, with Bitcoin ETFs posting USD 186 million of outflows on Monday, marking the fourth straight session of redemptions and sustained investor caution.
Read at London Business News | Londonlovesbusiness.com
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