Bitcoin slips below $90K after Fed's cautious rate-cut signals
Bitcoin and other big cryptocurrencies took a hit after the US Federal Reserve cut interest rates but signaled it's not in a rush for more cuts.
Bitcoin dropped 2.7% to about $90,150, with Ethereum and others like XRP, BNB, and Solana also sliding.
Why does this matter?
Crypto prices are super sensitive to what the Fed says about money policy.
Chair Jerome Powell highlighted upside inflation risks and downside employment risks—making investors nervous and sending the overall crypto market cap down nearly 3%.
What's behind the moves?
This was the Fed's third rate cut this year.
Bitcoin briefly jumped above $94K on the news but quickly lost steam as Powell signaled future cuts may be limited.
The Fed also plans to buy $40 billion in short-term Treasuries to keep cash flowing.
Where does Bitcoin go from here?
Analysts say Bitcoin is stuck in a tight range between $91,700 and $93,500 while traders wait for clearer direction.
For now, expect more sideways action until there's a stronger signal from either markets or the Fed.