Bitcoin Price Falls as Federal Reserve Cuts Interest Rates: Are Bears in Control?

Group 1: Federal Reserve and Economic Outlook - The Federal Reserve has cut rates for the second time this year, but market reactions are muted due to uncertainty among policymakers about future actions [1] - Jerome Powell has indicated that another rate reduction in December is not guaranteed, despite earlier plans [1] Group 2: Cryptocurrency Market Dynamics - Bitcoin has decreased by 4% in the past 24 hours, remaining just above $110,000, while Ether has fallen by 5% below $3,900 [2] - The head of research at Copper noted that crypto traders had anticipated the Fed meeting, with a focus on inflows to Bitcoin ETFs and institutional buying [2] - Bitcoin's volatility has decreased as the holder base becomes more patient, with Wall Street advisers now allocating significant capital [3] - A potential short-term decline in Bitcoin to $108,000 is possible, but dips are being absorbed by long-term positions [3] - A close above $111,000 is crucial for maintaining the structural pattern indicative of major bull runs [3] Group 3: Market Sentiment and Future Catalysts - Copper highlighted a familiar setup for Bitcoin ahead of the Fed decision, with a "wait-for-catalyst mentality" similar to previous monetary pivots [4] - The price point of $114,600 was identified as critical for a breakout, which has not yet occurred, leaving the market open to bearish tests [4] - Upcoming GDP data is anticipated as a potential catalyst for the crypto markets [4]