Bitcoin Drops to $111K Amid Fed Rate Cut, $179M Liquidations
Bitcoin slipped to $111,000 after the Federal Reserve cut rates by 25 basis points to 3.75–4.00% and confirmed it will end quantitative tightening by December. Fed Chair Jerome Powell’s cautious stance on further easing weighed on risk appetite, triggering over $179 million in long Bitcoin positions liquidations across major exchanges like Bybit and Hyperliquid. Technical indicators place immediate support at $109,000 and resistance at $117,500, with a breakdown below $109,000 risking additional sell-offs toward $103,500. Improved liquidity from the end of QT may help Bitcoin stabilize, but traders should prepare for range-bound action in the near term and monitor ETF inflows, U.S. economic data, and Fed signals for signs of renewed momentum.
Neutral
The Fed’s rate cut and end of QT introduced volatility, triggering large liquidations and exerting downward pressure on Bitcoin prices in the short term. Technical support at $109K may cap further declines, while improved liquidity and potential ETF inflows could stabilize or buoy the market over the coming weeks. This dual effect balances immediate bearish forces with longer-term bullish catalysts, resulting in a neutral outlook.