--- 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) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/263412376.md) | [繁體中文](https://longbridge.com/zh-HK/news/263412376.md) # 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** ### Related Stocks - [Grayscale Ethereum Staking ETF (ETHE.US)](https://longbridge.com/en/quote/ETHE.US.md) - [BTC/HKD (BTCHKD.VAHK)](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTC/USD (BTCUSD.VAHK)](https://longbridge.com/en/quote/BTCUSD.VAHK.md) - [ETH/HKD (ETHHKD.VAHK)](https://longbridge.com/en/quote/ETHHKD.VAHK.md) - [ETH/USD (ETHUSD.VAHK)](https://longbridge.com/en/quote/ETHUSD.VAHK.md) - [DOGE/USD (DOGEUSD.VAHK)](https://longbridge.com/en/quote/DOGEUSD.VAHK.md) ## Related News & Research - [Eightco Reports $326M Total Holdings Including 277.2M Worldcoin, $90M OpenAI Stake](https://longbridge.com/en/news/281191320.md) - [Mark Zuckerberg texted Elon Musk to offer help with DOGE](https://longbridge.com/en/news/280887963.md) - [BTC miners are collectively turning to Bitcoin.](https://longbridge.com/en/news/281160892.md) - [Peter Schiff Sounds Alarm On Bitcoin-Backed Mortgages](https://longbridge.com/en/news/280834905.md) - [AVAX One Q4 revenue surges on Avalanche strategy, bitcoin mining, maintains 2026 revenue forecast](https://longbridge.com/en/news/281241243.md)