📉 #MarketPullback : Bitcoin Slips Below $99K as Fed Rate Cut Hopes Fade

Global markets are grappling with a downturn as Bitcoin (BTC) struggles to hold key psychological levels, following signals from the Federal Reserve that they see "no signs of cutting rates in December."

The recent bullish momentum across both traditional and crypto markets has been abruptly halted. The primary catalyst is the persistent hawkish stance of the U.S. Federal Reserve, which continues to uphold the "higher for longer" narrative, pushing back expectations for a December rate cut. This creates an environment of higher borrowing costs and less speculative appetite.

📊 The Market Reaction

* Bitcoin (BTC): The flagship cryptocurrency has seen a significant slip, dropping over 2% to trade around $96,315.42 (based on the image). BTC, often viewed as a risk-on asset, is highly sensitive to macroeconomic shifts, and the high-interest-rate environment typically pressures its price.

* Traditional Equities: The tech-heavy Nasdaq and the S&P 500 also registered notable daily declines (as shown, -2% and -1.3%, respectively). This broad-based sell-off indicates a "risk-off" mood where investors retreat from growth and speculative assets.

* Crypto Stocks: Companies tied to the crypto sector, such as miners and exchanges, are seeing their stock prices "hammered across the board," amplifying the pressure felt in the digital asset space.

⚠️ Warnings and Market Sentiment

The prevailing atmosphere is one of caution and high volatility, amplified by significant public commentary:

* Echoes of 2008: The commentary in the feed, citing investors like Michael Burry (who predicted the 2008 crisis), underscores a deep-seated fear among some participants about the current financial stability and the lack of heed paid to bearish warnings.