"Powell's remarks at the post-meeting press conference struck a notably hawkish tone. While acknowledging progress toward the Fed's 2% inflation goal, he emphasized that the committee had "strongly differing views" and that no decision had been made about a December cut. Traders quickly scaled back expectations - with futures now pricing roughly a 60% chance of another reduction, down from nearly full certainty just a day earlier."
""Powell's comments created a bit of risk-off sentiment," said Charlie Sherry, head of finance at BTC Markets, according to Bloomberg. "Add in the Trump-Xi meeting stirring markets today, and, unsurprisingly, you get some volatility. Some technology stocks are rallying, but crypto hasn't followed - which shows some relative weakness and hesitation in digital assets right now." Treasury yields and the U.S. dollar climbed following Powell's remarks, while risk assets broadly sold off."
Bitcoin declined more than 3%, sliding to a low near $106,290 before stabilizing slightly above $107,000, extending a multi-day drop. The decline followed the Federal Reserve's 25 basis point rate cut and a hawkish post-meeting tone from Chair Jerome Powell, who said the committee had "strongly differing views" and that no decision had been made about a December cut. Futures pricing shifted to roughly a 60% chance of another reduction. Treasury yields and the U.S. dollar rose, two-year yields jumped nearly 10 basis points, and risk assets broadly sold off. U.S.-China talks and a Trump-Xi meeting announcement on tariffs added volatility.
Read at Bitcoin Magazine
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