Market Overview - Bitcoin (BTC) rebounded to $93,000 after initially dropping to $89,000 following the Federal Reserve's rate cut, showing a marginal increase over the past 24 hours [1] - Altcoins, including Cardano's ADA and Avalanche's AVAX, experienced declines of 6%-7%, while Ether (ETH) was down 3% but remained above $3,200 [1] Stock Market Correlation - Bitcoin's late-day bounce coincided with a slight recovery in U.S. stocks, with the Nasdaq closing down just 0.25% after being as much as 1.5% lower, while the S&P 500 ended modestly in the green and the DJIA gained 1.3% [2] - Precious metals saw significant gains, with silver rising 5% to an all-time high of $64 per ounce and gold climbing over 1% to near $4,300, aided by a weaker U.S. dollar index [2] Crypto Market Dynamics - Crypto exchange Gemini gained over 30% after receiving regulatory approval to offer prediction markets in the U.S., highlighting positive developments within the crypto sector [3] - Jasper De Maere from Wintermute noted a growing decoupling of crypto from equities, with only 18% of sessions in the past year showing BTC outperforming the Nasdaq on macro days, indicating that the recent rate cut may have been fully priced in [4] - Concerns about stagflation are emerging, shifting market focus from Fed policy to U.S. crypto regulation as a potential major driver [4] Selling Pressure Analysis - Analytics firm Swissblock reported that the downward pressure on Bitcoin is waning, with signs of market stabilization, although it is not yet fully confirmed [5] - The second wave of selling pressure is noted to be weaker than the first, indicating a potential shift in market dynamics [5]