🔴😞 Market Analysis — 31-10-03
The crypto market awoke with a jolt this morning as Fed Chair Jerome Powell’s latest commentary torpedoed the hopes of a swift December rate cut. Bitcoin, which had been holding steady above the $113K mark as traders braced for the FOMC meeting, abruptly sank back to $110K amid Powell’s hawkish tone. Liquidity thinned out as traders turned defensive, eyeing the stock market’s record run and buzzing speculation about a possible U.S.–China trade deal—both factors vacuuming capital away from digital assets. Meanwhile, altcoins felt the squeeze: Cardano dropped below key support on surging institutional outflows, and Solana-linked products struggled to find footing, even as new derivatives launched to tap into post-ETF momentum.
The short-term outlook feels tentatively cautious, with crypto bulls licking their wounds but not abandoning hope. The Fed’s signal of ongoing uncertainty—rather than a decisive pivot—sets a cloud over risk assets, prompting investors to pare back leverage and rotate into safe havens. If Bitcoin can reclaim $113K and power through $120K, some analysts see a technical path opening toward $143K, but a retest of lower levels is equally plausible if macro headwinds persist. Keep an eye on capital flows: as stocks magnetize liquidity, crypto must prove itself more than just a speculative playground in the weeks ahead.
- Powell’s hawkish stance triggers sharp selloff, especially in Bitcoin and majors.
- Equity market euphoria drains liquidity from digital assets, intensifying volatility.
- Altcoins under pressure as institutional flows seek safer ground.