Crypto Market News Today, December 11: Decoding The Federal Reserve Results with Jerome Powell Hawkish Speech and What They Mean for Crypto

Bitcoin (BTC) has returned to the $90,000 mark, while Ethereum (ETH) is testing the $3,200 support level. This follows a recent interest rate cut by the Federal Reserve, which has led to fluctuating market sentiments within the cryptocurrency community.

The cryptocurrency market experienced a significant downturn following the Federal Reserve's third consecutive 25 basis point interest rate cut, which was anticipated by many. Despite initial price surges for Bitcoin, Ether, XRP, and Solana, the momentum quickly reversed, leading to notable declines in their values. Bitcoin fell over 5%, while Ether dropped more than 8.5% at one point.

Crypto prices experienced a pullback on December 11, following a brief bounce after the Federal Reserve's recent rate cut. The total cryptocurrency market capitalization decreased by 3% to $3.1 trillion, with Bitcoin trading at $89,975, down 2.7% from previous levels. Other major cryptocurrencies like XRP, UNI, and DOT also retraced after the initial surge.

Bitcoin has stabilized above the $92,000 mark after a rebound from a dip towards $90,000, providing temporary relief for bulls. However, market sentiment remains largely bearish, with traders anticipating further declines unless a significant shift in momentum occurs ahead of the Federal Reserve's upcoming meeting.

The Federal Reserve's anticipated rate cut could potentially boost stock markets, yet Bitcoin options indicate a low probability of the cryptocurrency reaching $100,000 by January. Recent fluctuations in Bitcoin's price have been influenced by market sentiment surrounding the Fed's monetary policy decisions.

Bitcoin's price surged above $94,000 following a 25 basis point cut in the Federal Reserve's benchmark rate, which now stands at 3.50%–3.75%. This move aims to support job growth and address high inflation levels, reflecting a significant moment in the cryptocurrency market.

The Federal Reserve has announced a 25 basis points interest rate cut, lowering the rate range to 3.5% to 3.75%, which may indicate a bullish trend for Bitcoin and the cryptocurrency market. Economic adviser Kevin Hassett noted that there is potential for further rate cuts, suggesting a shift in monetary policy that could favor digital assets.

The Federal Reserve has approved a 0.25% rate cut amidst ongoing concerns regarding inflation and economic growth, which has implications for the cryptocurrency market, particularly Bitcoin, currently struggling to break the $100,000 barrier due to its 'fragile range' as highlighted by Glassnode data.