---
title: "Bitcoin, Ethereum, XRP, Dogecoin Dip As Fed Chair Powell Pours Cold Water On December Rate Cut Hopes: Analyst Says Watch Out For These Key BTC Levels"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/263412376.md"
description: "Leading cryptocurrencies, including Bitcoin, Ethereum, XRP, and Dogecoin, experienced declines as Federal Reserve Chair Jerome Powell dampened hopes for a December interest rate cut. Bitcoin fluctuated between $110,000 and $113,000, while Ethereum struggled to surpass $4,000, down over 20% from its peak. Nearly $600 million was liquidated from the crypto market, with a significant number of long positions affected. The global cryptocurrency market cap fell by 1.50% to $3.74 trillion. Analysts suggest Bitcoin is currently trapped in a range between $107,000 and $116,000, with potential for a short-term rally if conditions improve."
datetime: "2025-10-30T02:15:55.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/263412376.md)
  - [en](https://longbridge.com/en/news/263412376.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/263412376.md)
---

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# Bitcoin, Ethereum, XRP, Dogecoin Dip As Fed Chair Powell Pours Cold Water On December Rate Cut Hopes: Analyst Says Watch Out For These Key BTC Levels

Leading cryptocurrencies fell alongside major stock indexes on Wednesday as **Federal Reserve** Chair **Jerome Powell** said that a year-end interest rate cut is “not a foregone conclusion.”

## Cryptos Fall As Investors Remained Fearful

**Bitcoin** fluctuated between $110,000 and $113,000 during the day, accompanied by a drop in trade volume.

**Ethereum** attempted to break above $4,000 but faced repeated rejections. The second-largest cryptocurrency is trading down over 20% from its all-time high.

Nearly $600 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with an overwhelming majority of long positions wiped out.

That said, nearly $580 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rebounds to $117,000.

Bitcoin's open interest, meanwhile, rose 1.65% in the last 24 hours. An increase in open interest coinciding with a price decrease mainly indicates new short positions being opened.

The market remained gripped in "Fear," according to the Crypto Fear & Greed Index.

**Top Gainers (24 Hours)**

The global cryptocurrency market capitalization stood at $3.74 trillion, contracting 1.50% in the last 24 hours.

## Stocks Slide After Powell’s Hawkish Tone

Stocks retreated on Wednesday. The **Dow Jones Industrial Average** fell 74.37 points, or 0.16%, to 47,632.00**.** The **S&P 500** closed lower at 6,890.59**.** The tech-heavy **Nasdaq Composite** bucked the declines, rallying 0.55% to close at a new record of 23,958.47.

The Fed lowered interest rates by 25 basis points to 3.75%-4.00% for the second straight meeting, but Fed Chair Powell cautioned that a year-end cut is "not a foregone conclusion," pushing back against investor expectations.

Following Powell’s comments, odds of the central bank keeping the rates unchanged surged to 67%, from only 9% a day ago, according to the CME FedWatch tool.

## BTC’s Short-Term Rally On The Way?

On-chain analytics firm CryptoQuant noted that Binance funding rates have remained positive over the past week.

"When rates move back into positive territory, Bitcoin often begins a new short-term uptrend," CryptoQuant stated. "This may signal that the groundwork for the next rally is already being laid."

Widely followed cryptocurrency analyst **Daan Crypto Trades** highlighted that Bitcoin remains trapped in the $107,000-$116,000 range, with two rejections at $116,000.

"The main levels are still $107,000 & $116,000 in the short to mid term. Anything in between those levels is just chop," the analyst added.

_Photo Courtesy: Sodel Vladyslav on Shutterstock.com_

-   **Michael Saylor Targets $150,000 For Bitcoin As Strategy Breaks New Ground With S&P Rating**

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