BTC, ETH Stumble on Fed Caution as Options Expiry Looms: Crypto Daybook Americas

The crypto market experienced a pullback after Federal Reserve Chair Jerome Powell indicated that a December interest rate reduction was not guaranteed, despite the Fed cutting rates by 25 basis points. Bitcoin fell 2.5% to $110,200, and the CoinDesk 20 index lost 1.7%, leading to over $820 million in liquidations. While the Fed will end its balance sheet runoff by December 1, adding potential liquidity, market enthusiasm remains muted following a prior flash crash, with digital asset treasuries adding selling pressure. Furthermore, a significant $13 billion options expiry on Friday is expected to amplify price swings due to market maker hedging activity, particularly around strike prices of $100,000 to $111,000.

(Source：CoinDesk)