Bitcoin don drop 2.4% afta Fed don price-in 25bp rate cut
On October 29, di Federal Open Market Committee sharply cut dia federal funds rate by 25 basis points come down to 3.75%–4%, and dis move don full market don price am already. After di announcement, Bitcoin drop like 2.4%. Fed Chair Jerome Powell tok say some FOMC members no gree with further cut wey fit happen for December, show say dem get difference wey fit limit money flow for risky assets. CME Group data show say e get 56% chance say dem go cut rate again to 3.5%–3.75% before year end. Historically, Bitcoin dey gain like 46% for November on average after rate dem cut. But di ongoing trade wahala between US and China plus mixed Fed signals don reduce market ginger for crypto. Traders suppose dey watch inflation report, job report, FOMC minutes, plus geopolitical matter. Bitcoin seasonal strength and likely soft Fed policy still dey shine for disciplined, data-based buying strategy.
Bearish
Bitcoin drop wit 2.4% after di Federal Reserve cut di fed funds rate—dis move don already dey priced in by di markets—plus di divisions inside Fed about more easing mean say liquidity go tight for risk assets. Short-term trading sentiment fit be bearish as investors dey try understand di mixed signals and geopolitical wahala. But Bitcoin get history of strong November and di possibility of more future rate cuts fit help long-term price recovery. Overall, di net effect on Bitcoin price dey bearish short-term but e softened by seasonal factors and Fed expectations wey dey dovish.