Bitcoin Price Crashes To $106,000 As Bloody Week Continues
The post Bitcoin Price Crashes To $106,000 As Bloody Week Continues appeared on BitcoinEthereumNews.com.
Bitcoin price continued its slide through much of Thursday, dipping to as low as $106,290 as traders digested a wave of macro uncertainty — from Federal Reserve Chair Jerome Powell’s cautious tone on future rate cuts to renewed volatility following U.S.–China trade talks. The bitcoin price fell over 3% in early trading before stabilizing slightly above $107,000. The drop extends a multi-day long decline that began after the Federal Reserve delivered a widely expected 25 basis point rate cut but signaled that December’s meeting may not bring another. Powell’s remarks at the post-meeting press conference struck a notably hawkish tone. While acknowledging progress toward the Fed’s 2% inflation goal, he emphasized that the committee had “strongly differing views” and that no decision had been made about a December cut. Traders quickly scaled back expectations — with futures now pricing roughly a 60% chance of another reduction, down from nearly full certainty just a day earlier. “Powell’s comments created a bit of risk-off sentiment,” said Charlie Sherry, head of finance at BTC Markets, according to Bloomberg. “Add in the Trump–Xi meeting stirring markets today, and, unsurprisingly, you get some volatility. Some technology stocks are rallying, but crypto hasn’t followed — which shows some relative weakness and hesitation in digital assets right now.” Treasury yields and the U.S. dollar climbed following Powell’s remarks, while risk assets broadly sold off. The two-year Treasury yield jumped nearly 10 basis points as traders reassessed the Fed’s trajectory. Meanwhile, market attention also turned to Seoul, where U.S. President Donald Trump met with Chinese President Xi Jinping. Trump described the talks as “amazing” and announced a deal to halve tariffs on fentanyl-related goods, claiming the two sides were “pretty close” to a broader trade agreement involving rare earth materials and agricultural purchases. While such developments have little…
