Benzinga·2025-12-11 04:01Core Viewpoint - Leading cryptocurrencies experienced a decline in value following Federal Reserve Chair Jerome Powell's comments, which dampened expectations for rate cuts in 2026 [1] Cryptocurrency Market Performance - Bitcoin decreased by 1.14% to $91,244.67, while Ethereum fell by 1.39% to $3,310.83. XRP and Solana saw declines of 3.09% and 2.65%, respectively, and Dogecoin dropped by 4.03% to $0.1409 [2] - Bitcoin reached an intraday high of $94,477.16 but fell back to the $91,000 range by late evening. Ethereum also retreated from $3,436 to $3,260 overnight [3] Cryptocurrency-Linked Stocks - Shares of cryptocurrency-related companies such as Strategy Inc. and Coinbase Global Inc. closed down by 2.30% and 0.82%, respectively, during the trading session [4] Liquidation and Open Interest - Cryptocurrency liquidations totaled $390 million in the last 24 hours, with $255 million coming from long positions. Bitcoin's open interest decreased by 0.10%, and since its all-time high on October 7, it has collapsed by 38% [5] - Over 60% of Binance traders with open BTC positions remained long, according to the Long/Short Ratio [6] Market Capitalization - The global cryptocurrency market capitalization was recorded at $3.14 trillion, reflecting a modest decline of 0.68% over the last 24 hours [7] Federal Reserve Impact - The Federal Reserve cut the federal funds rate by 25 basis points to a range of 3.50–3.75%, citing cooling labor conditions and moderating inflation. However, Powell indicated that a rate hike is not the base case for most policymakers [8][9] Analyst Insights - Analysts suggest that Bitcoin needs to hold above the crucial support level of $91,800 to potentially rally towards $100,000. Ethereum's key support is identified at $2,770 [10][11]