"The crypto markets fell slightly on Wednesday after Jerome Powell, chair of the Federal Reserve, hinted that an October interest rate cut of 25 points may be the last such cut of 2025. Bitcoin dipped 1.6% over the past 24 hours to trade at nearly $111,000, according to data from Binance. Ethereum, the second largest cryptocurrency by market capitalization, was down about 2% to a bit more than $3,900. The total market cap of all cryptocurrencies dropped 1.8%."
"While Powell said there were "strongly differing views" among his colleagues about future rate cuts, he added during a press conference that "there's a growing chorus now of feeling like maybe this is where we should at least wait a cycle.""
"The dip in cryptocurrency prices on Wednesday was smaller compared with a recent flash crash on Oct. 10 that wiped out more than $19 billion in positions in the largest crypto liquidation event ever tracked by crypto analytics firm CoinGlass. The crash coincided with President Donald Trump's threat to hit China with a 100% tariff "over and above" existing tariffs, causing Bitcoin to shed more than $200 million in market cap and plummet nearly 10% in price. Ethereum experienced an even more drastic downturn, tanking almost 14%."
Federal Reserve Chair Jerome Powell indicated that an October 25-point interest-rate cut may be the last cut of 2025 and noted differing views among colleagues with growing momentum to pause. Bitcoin fell about 1.6% to nearly $111,000 and Ethereum declined around 2% to just above $3,900, reducing total crypto market capitalization by 1.8%. U.S. equity benchmarks were mixed: the S&P 500 flat, the Dow down roughly 0.2%, and the Nasdaq up about 0.6%. Analysts said easing monetary conditions can support Bitcoin upside if macro risks remain limited. A recent Oct. 10 flash crash erased over $19 billion and was linked to tariff threats that were subsequently walked back.
Read at Fortune Crypto
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