Opinion: The Fed may no longer be dovish next year, and crypto traders and market makers try to reduce risks

Odaily Odaily: After the Federal Reserve's interest rate decision, the price of Bitcoin fell in the short term, falling below $101,000 per coin, a sharp drop of 5%. The day before, the cryptocurrency climbed above $108,000 for the first time, setting a record-breaking rally this year. Lower interest rates typically increase demand for most risky assets such as cryptocurrencies. Currently, speculative bets are decreasing across the financial market. Zaheer Ebtikar, founder of cryptocurrency fund Split Capital, said: "The global market expects that the Federal Reserve will no longer be so dovish in 2025. As a result, cryptocurrency event traders and market makers are reducing risks."