Overview
- The Federal Reserve delivered a widely expected 25-basis-point cut, and Chair Jerome Powell signaled a data-dependent path with limited easing projected into 2026.
- Bitcoin briefly jumped above roughly $94,000 after the decision, then slipped below $90,000 before stabilizing in a tight $89,000–$93,000 range.
- Roughly $500 million in crypto positions were liquidated over 24 hours, with long bets taking the brunt as open interest eased and options markets favored downside protection.
- Flows into U.S. spot Bitcoin ETFs have cooled in recent weeks with several sizable net outflow days, undercutting a key source of earlier buy-side support.
- On-chain data show rising realized losses for recent buyers alongside very low Exchange Inflow CDD on Binance, indicating limited selling by long-term holders.