Crypto Markets Today: BTC Tests $110K as Traders ‘Sell the News’ on Fed Cut, U.S.-China Deal
CoinDesk
Bitcoin fell to $110K support after a Fed rate cut and U.S.-China deal, causing the market to shed $80 billion.Summary
The broader crypto market lost $80 billion following the Federal Reserve's interest-rate cut and a new U.S.-China trade agreement, leading traders to 'sell the news.' Bitcoin retreated from $116,000, testing the $110,000 support level, raising concerns about forming a lower high after setting a record near $126,000 earlier in the month. Despite the sell-off, BTC futures open interest rose to $27.2 billion, and funding rates normalized, suggesting underlying market resilience. XRP and XLM led losses among major tokens, though the memecoin TRUMP gained 6.8% on acquisition rumors. Bitcoin dominance slightly decreased, indicating some altcoins outperformed BTC during the decline.
(Source：CoinDesk)