๐ Market & Price Action
Bitcoin slides as Fed rate cut impacts risk assets โ BTC fell below key $90,000โ$91,000 support amid broader risk-off trading following the U.S. Federal Reserveโs interest rate decision. Other major cryptocurrencies also saw downward pressure as traders priced in macroeconomic risks.
Volatility spikes across markets โ Ether and top altcoins fluctuated sharply, erasing earlier gains and reinforcing a cautious sentiment among traders ahead of continued macro-data releases.
Fed messaging influencing crypto sentiment โ Federal Reserve Chair Jerome Powellโs tone was perceived as more hawkish than expected, damping risk appetite and keeping crypto market participants on alert.
๐ Regulation & Institutional Developments
CFTC expands council membership โ Crypto and traditional finance leaders have joined a new Commodity Futures Trading Commission (CFTC) Innovation Council, signaling deeper regulatory engagement with digital assets.
๐ฐ Key Events & Breaking News
Upbit recovers stolen funds โ South Koreaโs Upbit exchange announced it has frozen ~$1.77M in stolen crypto funds from last monthโs hack, underscoring heightened focus on security and asset recovery.
Shiba Inu burn rate plunges ahead of central bank meetings โ SHIB token burn activity sharply declined as traders adopt a cautious stance ahead of upcoming macroeconomic catalysts.
Altcoins showing mixed performance โ Terra (LUNA) led 24-hour gains among top cryptos, while several other tokens saw declines โ illustrating continued rotation within the broader market.
โ๏ธ Legal & Scandal Updates
Do Kwon sentencing scheduled โ Terraform Labs co-founder Do Kwon is set to be sentenced in New York over fraud tied to the $40B TerraUSD/Luna collapse, marking a major legal milestone in one of cryptoโs largest failures.
๐ Market Context & Snapshot
Global crypto market cap remains around multi-trillion levels but sentiment tilts cautious due to macro influences and looming policy catalysts.
Traders are positioning ahead of further central bank guidance and year-end liquidity flows.
