🚨 Market Alert: Bitcoin Holds Steady Ahead of Crucial Fed Decision! 📉💰
Bitcoin (BTC) is hanging tight near $113,000 this Wednesday afternoon in Asia! Traders are proceeding with caution as the highly anticipated Federal Reserve (FOMC) policy decision looms later today (Oct 29). 🦅 The combination of a stronger dollar and fading market liquidity is weighing on the mood across risk assets.
📉 Token Snapshot (Last 24h):
Bitcoin ($BTC ): Down 0.7%, but still up 4.5% over the last seven days! 💪
Ether ($ETH ): Traded at $4,028, down 1.4%.
Solana ($SOL ) & Binance Coin (BNB): Each slipped by ~2%.
XRP: Bucking the trend, held slightly higher near $2.62, extending a solid weekly run! 🚀
🏦 The Fed Effect: 25bps Cut Expected
The market is widely anticipating the Fed will announce a 25 basis point (bps) rate cut today, lowering the benchmark rate to the 4.00\%-4.25\% range. ✂️
🔥 Kraken's Thomas Perfumo: "The fluctuating macroeconomic backdrop is the dominant driver of this crypto cycle... A 25bps cut this week appears highly probable, and the market is already pricing in another by December."
💧 Liquidity Crunch & Market Resilience
Tightening Liquidity: Foresight Ventures' Alice Li notes that CEX order-book liquidity has dramatically fallen to about 40% of pre-drop levels! 😬 This makes the market more susceptible to volatility.
Institutional Shift: While demand from large digital-asset treasuries (like MicroStrategy) is slowing, ETF flows remain BULLISH, even during recent drawdowns. 📊 This signals crypto's growing foothold in traditional finance (TradFi)! 🤝
🛡️ Technical Outlook: Bull Structure Intact!
Despite the subdued tone, analysts are seeing resilience:
Total crypto market capitalization is still around $3.9 Trillion!
