Federal Reserve Cuts Interest Rates

On Wednesday, November 18, the US Federal Reserve, under Chairman Jerome Powell, lowered the benchmark interest rate by 25 basis points to a range of 4.25%-4.5%. This marks the third rate cut of the year, as the Federal Open Market Committee (FOMC) continues its efforts to combat inflation while maintaining economic stability.

Powell stated that the US economy remains strong despite slower growth and a moderating job market. Inflation is gradually declining, and the Fed remains committed to its 2% inflation target without significantly impacting employment levels.

Bitcoin Targets New Highs Amid Volatility 🚀

Bitcoin recently achieved an all-time high of $108,353 but has since retraced to around $101,000—a 3.50% drop in the past 24 hours. If BTC fails to hold the $100,000 level, a pullback to $97,400–$95,000 could occur.

However, a breakout above $108,353 resistance could ignite a surge to the $112,000–$119,000 range. Many experts believe this momentum could eventually push Bitcoin to $150,000 by 2025, supported by rising institutional adoption and its growing status as a global financial asset.

Traditional Markets React to Fed Decision 📉

The Fed’s rate cut sent ripples across traditional markets:

Gold: Prices fell 2.30%, trading at $2,585.61 per ounce, as the US dollar strengthened and Treasury yields rose.

Stock Market: Major indices dropped sharply, with the S&P 500 losing 2.95%, the Nasdaq 100 down 3.60%, and the Dow Jones Industrial Average declining by 2.58%. In total, over $1.5 trillion was wiped out of the stock market.

Crypto Market Liquidations Surge 💥

The cryptocurrency market saw heightened volatility, with $852.85 million in liquidations over the last 24 hours. Long positions bore the brunt, accounting for $751.68 million of the total.

Ethereum is trading around $3,650, while altcoins faced notable losses ranging from 5% to 10%. Among the hardest-hit:

XRP dropped 10%,

DOGE fell 9.10%,

ADA declined 8.59%.

Bitcoin’s dominance now stands at 54.4%, underlining its strength in the face of market turbulence.

Conclusion 🌟

The Federal Reserve’s latest rate cut has added fuel to market volatility, yet Bitcoin continues to shine as a dominant financial asset. Traders and investors are closely watching the $100,000 support and $108,353 resistance levels. A breakout could signal the start of a new rally, propelling Bitcoin toward its next milestones.

👉 What’s your take on Bitcoin’s next move?

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