#FOMCMeeting
Crypto Market Turns Red! What’s Going On?
The crypto market is seeing a pullback as investors await the FOMC meeting on Oct 29. Here’s what’s behind the dip
Rate Cut Watch: The Fed is expected to trim rates by 25 bps, but traders are holding back until Powell’s comments give clearer direction.
Profit Booking: After strong rallies in tokens like $FLM (+40%), MDT, and $TRUMP , some traders are cashing out gains.
Bitcoin Cooldown: $BTC has dropped below $113K, triggering short-term corrections across altcoins.
Global Caution: Stock markets are also in the red, reflecting a broader risk-off sentiment.
What’s Next?
If Powell hints at further rate cuts, crypto could bounce back quickly — but for now, traders are staying cautious and waiting for clarity.
