"Bitcoin price tumbled sharply Thursday morning, falling to the low $107,000s as traders digested cautious remarks from Federal Reserve Chair Jerome Powell and mixed signals from the latest Trump-Xi meeting. The bitcoin price drop erased last week's rebound and extended the bitcoin's weak October performance, weighed down by macro headwinds and China-U.S. trade relations. The world's largest cryptocurrency was down to $107,472 by early Thursday, according to Bitcoin Magazine Pro data, after briefly plunging to $107,925 overnight."
"The move followed the Fed's 25-basis-point rate cut on Wednesday - its second of 2025 - bringing the target range to 3.75%-4%. While the cut was widely anticipated, Powell's message was clear: further easing this year is far from guaranteed. There were "strongly differing views among policymakers," Powell said during his post-meeting press conference, adding that the Fed might "wait a cycle" before considering another reduction."
Bitcoin plunged to the low $107,000s Thursday morning after traders reacted to cautious remarks by Federal Reserve Chair Jerome Powell and mixed signals from the Trump-Xi meeting. The decline erased last week's rebound and extended bitcoin's weak October performance, weighed down by macro headwinds and China-U.S. trade relations. The Fed implemented a 25-basis-point cut to a 3.75%-4% target range, but Powell indicated further easing this year is far from guaranteed and noted strongly differing views among policymakers, saying the Fed might "wait a cycle" before another reduction. Risk assets softened and market sentiment turned cautious.
Read at Bitcoin Magazine
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