Bitcoin Drop to $111K as Fed Cut Rate, $179M Liquidations Happen
Bitcoin drop reach $111,000 afta Federal Reserve reduce rate by 25 basis points to 3.75–4.00% and confirm say dem go stop quantitative tightening come December. Fed Chair Jerome Powell cautious stance about more easing make risk appetite go down, cause over $179 million long Bitcoin positions for main exchanges like Bybit and Hyperliquid to get liquidated. Technical indicators dey show immediate support for $109,000 and resistance at $117,500, if e break below $109,000 e fit cause more sell-off go $103,500. Better liquidity from end of QT fit help Bitcoin stabilize, but traders suppose prepare for range-bound action short term and dey watch ETF inflows, US economic data, and Fed signals for signs of new momentum.
Neutral
Di Fed rate cut plus di end of QT bring wahala for market, e cause big liquidations and con push Bitcoin price down small for short term. Technical support for $109K fit stop am from fall more, plus better liquidity and possible ETF money fit help market steady or carry am up for the next few weeks. Dis two things balance the immediate bearish wahala with long-term bullish chances, make the market sight neutral.