Why is Bitcoin (BTC) Trading Lower Today?

Bitcoin (BTC) is trading down, falling below $90,000, despite the Federal Reserve cutting its benchmark interest rate by 25 basis points to 3.25% as expected. The primary reason for the market's negative reaction appears to be the Fed's accompanying messaging, which signaled less enthusiasm for future rate cuts, including suggesting only one more cut in 2026, disappointing market expectations. Furthermore, internal divisions within the FOMC regarding inflation versus employment goals have created uncertainty about the future rate path until 2026. Experts suggest that the market may require a 'deleveraging' period to convince the Fed to implement further cuts decisively. Additionally, the Fed's new liquidity management program, involving purchasing short-term Treasury bills, is viewed as distinct from traditional Quantitative Easing (QE) and is intended to prevent money market instability rather than aggressively boost speculative investments.

(Source：CoinDesk)