Bitcoin Price Crashes to $109,000 Then Rebounds as Jerome Powell Stays Neutral on Future Cuts

Bitcoin's price fell to $109,000 on Wednesday after Federal Reserve Chair Jerome Powell indicated that further interest rate cuts in December were not guaranteed, following a 0.25 percentage point rate reduction. This uncertainty caused a sharp sell-off across risk assets, with Bitcoin plunging before recovering to near $111,000. Powell noted that officials held "strongly differing views" regarding future policy. Consequently, market expectations for a December cut dropped from 90% to 71%. Separately, Powell confirmed the Fed expects to stop its Quantitative Tightening (QT) program by December, a move that could eventually support liquidity and risk assets like Bitcoin, though policy remains data-dependent.

(Source：Bitcoin Magazine)