Bitcoin continues its losses and drops below $110,000 after Powell's warnings about interest rate cuts
Main Digital Currencies
By Fintech Gate on October 30, 2025
Bitcoin
The price of Bitcoin and digital currencies has decreased.
Cryptocurrencies have collectively declined over the last 24 hours, coinciding with the US Federal Reserve's decision to cut interest rates by 25 basis points, a move that was expected to boost demand for high-risk digital assets.
This decline comes a day after the meeting between U.S. President Donald Trump and Chinese President Xi Jinping, which broadcast some optimism in the markets regarding easing trade tensions between the world's two largest economies. However, investors in the crypto market remain cautious with recent economic developments, which has reflected on the performance of most major digital currencies.
Decline of Bitcoin and Ethereum
The value of Bitcoin fell by 2.64% over the last 24 hours, reaching $109,972.26, with a market capitalization of approximately $2.19 trillion, amid trading exceeding $70.4 billion. Ethereum also dropped by a similar rate of 2.64%, reaching $3,890.29, with a market capitalization of about $469.5 billion.
The stablecoin Tether (USDT) maintained its stability at $1.00 with no significant change, recording a daily trading volume of $154.4 billion.
Ripple (XRP) recorded a decline of 3.58%, settling at $2.55 with a market capitalization of $153.5 billion. Meanwhile, Binance Coin (BNB) slightly decreased by 0.09% to $1,111.88.
Solana (SOL) fell by 1.43% to $191.45, with a market capitalization of $105.2 billion, amid a relative decline in demand for alternative coins.
Dogecoin (DOGE) continued its losses with a decline of 2.26% to $0.1892, with a market capitalization of $28.6 billion, while Tron (TRX) decreased by 0.31% to $0.2963.
In the same context, Cardano (ADA) dropped by 1.90% to $0.6332, affected by selling pressures that impacted most mid-value coins.
Interest rate pressures on the crypto market
Analysts believe that the U.S. Federal Reserve's decision to cut interest rates did not positively reflect on the cryptocurrency market as expected, as investors turned to profit-taking after the recent surge, leading to a collective decline in the values of major digital assets over the last 24 hours.
The pace of decline increased after U.S. President Donald Trump met with Chinese President Xi Jinping, but selling soon slowed down.
Trump stated that the meeting was 'amazing' and resulted in a trade agreement to reduce tariffs on fentanyl-related goods from China by half, effective immediately.
