According to Followin, On October 30, the Federal Reserve announced a 25bps rate cut, bringing the federal funds rate to 3.75%–4.00%, while confirming that its balance sheet reduction program will end on December 1. The decision saw two dissenting votes—one favoring a 50bps cut and another preferring no change—highlighting rising internal disagreement. Chair Jerome Powell adopted a cautious tone, stressing that a December rate cut is “far from certain” and acknowledging that missing data has increased policy risks. Following the announcement, U.S. stocks fell sharply from session highs, while the dollar and Treasury yields climbed, and gold dropped over $40.
From a macro perspective, the end of quantitative tightening (QT) signals a liquidity turning point, but heightened policy uncertainty has prompted markets to reprice the pace of future rate cuts. Risk assets are facing short-term pressure with volatility sharply elevated.
According to Bitunix analysts, BTC’s support zone lies between $109,600–$108,000, with a break below potentially triggering cascade liquidations. The upper resistance levels are at $112,300 and $116,000. Amid liquidity redistribution and dollar strength, the crypto market is likely to enter a consolidation phase, as investors reposition under renewed macro uncertainty and shifting risk sentiment.
