Bitcoin, Ethereum Tumble After Fed Cuts Rates, but Powell Says Another 'Not a Forgone Conclusion'

Group 1 - The U.S. central bank cut the interest rate by 0.25%, leading to a negative response in crypto markets, particularly Bitcoin and Ethereum, which saw declines of over 10% and 2.7% respectively [1][3] - The CME FedWatch Tool indicated a more than 99% probability of the recent rate cut and over 90% chance of another 0.25% reduction in December [2] - The Federal Reserve's decision was influenced by economic indicators pointing to a slowing U.S. economy, with unemployment at a four-year high of around 4.3% [5][6] Group 2 - The Federal Reserve's concerns about economic risks outweighed inflation worries, with the Consumer Price Index rising 3% year-over-year as of September [6] - The Fed's decision was not unanimous, with some members advocating for a larger cut of 0.50% [4]