Bitcoin Plunges Below Critical Support as Dollar Surges Before Powell’s Keynote

Digital gold faces pressure test as traditional finance flexes muscles

The Perfect Storm Hits Crypto

Bitcoin tumbles through crucial technical levels while the greenback charges upward—all eyes turn to the Fed chairman's upcoming address. Market sentiment shifts as institutional players brace for potential regulatory signals.

Support Levels Crumble Like Dry Wall

Key resistance zones that held firm for weeks now surrender to selling pressure. The crypto king's throne looks shaky as traditional markets play their usual games of chicken with interest rates.

Dollar Dominance Returns

Just when decentralized dreams seemed within reach, good old-fashioned fcurrency muscle reasserts itself. Because nothing says financial innovation like central bankers dictating market movements.

As Powell prepares to speak, crypto traders face the age-old dilemma: fight the Fed or join them. Meanwhile, Bitcoin reminds everyone it's still the rebellious teenager of finance—volatile, unpredictable, and utterly fascinating despite occasional temper tantrums.

Minutes showed caution over inflation

Minutes revealed that while policymakers were united in their view that rates should be cut, they disagreed on how aggressively rate cuts should proceed and were worried about sticky inflation.

“Most judged that it likely WOULD be appropriate to ease policy further over the remainder of this year,” according to minutes of the Federal Open Market Committee’s Sept. 16-17 meeting. “A majority of participants emphasized upside risks to their outlooks for inflation.”

Participants voted 11-1 to lower the federal funds rate by 25 basis points, bringing the target range down to around 4%. At the same, a majority of 19 officials anticipated at least two more rate cuts this year, while seven foresaw no further reductions. The DOT plot published last month showed a slight majority favoring two more rate reductions this year which would take the benchmark rate to 3.50-3.75%.

Discussions focused heavily on a weakening labor market and early signs that inflation could reaccelerate. Still, the committee was generally aligned in its view that President Donald Trump’s trade tariffs would not be a lasting source of inflation.