Crypto Markets Today: BTC, ETH Prices Sink to Lowest in Months as Liquidity Dries Up
Bitcoin and Ether hit multimonth lows amid a broader downtrend, driven by shifting Fed rate-cut expectations and thin market liquidity.Summary
Major cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), experienced a significant downturn, hitting multimonth lows of $93,400 and $3,050, respectively, confirming a bearish trend characterized by lower highs and lows across timeframes. This sell-off is attributed to a shift in expectations regarding the Federal Reserve's interest-rate cutting cycle, with reduced odds for a December reduction making risk assets less attractive. The market is further impacted by thin liquidity, which exaggerated downside moves, causing Solana to dip to a five-month low. Derivatives data shows capital leaving the market, with open interest falling for most major tokens, and options markets reflecting a strong downside bias. The Crypto Fear and Greed Index dropped to 17/100, signaling "extreme fear," though the average RSI suggests the market is not yet fully oversold.
(Source：CoinDesk)