Fed Chairman’s statement triggers bitcoin’s drop to $ 108,000

Bitcoin BTC $105,939.00 Mezo Wrapped BTC 2.97% Market capitalization $56.47 million VOL. 24 hours $2.61 billion has dropped to around $ 108,000 after statements by US Federal Reserve Chairman Jerome Powell, who questioned the possibility of another discount rate cut in December. The drop came shortly after the Federal Open Market Committee (FOMC) announced a 25 basis point rate cut, which initially supported the market but quickly triggered a wave of profit-taking on cryptocurrency exchanges.

After Powell’s speech at the press conference, Bitcoin dropped below $ 110,000, stabilizing around $ 108,500. Analysts note that the Fed chairman’s comments on «unguaranteed» monetary policy easing in December reduced risk appetite among investors who had previously expected a more predictable rate cut cycle.

An additional pressure factor was negative flows from exchange-traded funds (ETFs). As of October 29, spot Bitcoin ETFs recorded net outflows of $ 471 million and Ethereum ETFs — $ 81 million. At the same time, Bitwise launched a new ETF on Solana, which raised $ 69.45 million, becoming the largest daily inflow for any ETF in 2025.

Technical analysis indicates that the support zone for bitcoin is currently between $ 107,000 and $ 109,000. Resistance is formed at around $ 117,000, where a significant volume of sales is recorded, which restrains further growth. Market participants believe that exceeding this level is possible only if demand recovers after short-term consolidation.

Financial advisors advise investors to reduce risks, keep part of their capital in cash, and avoid impulsive transactions caused by market news. According to them, the current situation requires balanced actions and a gradual return to the market only after confirmation of stable demand.