Bitcoin and Ethereum fell sharply on Oct 30 as renewed caution from the US Federal Reserve (Fed) cooled risk appetite and triggered heavy selloffs across digital assets.
At the time of writing, Bitcoin slipped 1.4% to around US$109,000, while Ethereum dropped 2.7% to US$3,830, retreating from the key US$4,000 mark.
The pullback followed Fed Chair Jerome Powell’s warning that further rate cuts were “not guaranteed”, erasing optimism after the recent 25-basis-point cut.
The global crypto market cap fell below US$4 trillion, while US$1.1 billion in leveraged positions were liquidated in 24 hours as traders unwound bets on a continued rally.
Analysts say Bitcoin is now consolidating between US$110,000 and US$118,000, with downside risk if it breaks below US$105,000. Ethereum faces similar pressure near the US$3,800-US$4,000 range.
For investors, the latest dip underscores crypto’s growing sensitivity to global monetary policy. A dovish Fed could reignite the rally; further caution could deepen the pullback.
Moving forward, Bitcoin’s medium-term trend remains constructive if it can hold above US$105,000, with potential to retest US$120,000 should liquidity conditions improve. Ethereum’s path, meanwhile, will depend on regaining its strength above US$4,000, as investors watch developments in staking demand and network upgrades.
Both assets are expected to stay range-bound in the near term as traders await clearer signals from the Fed and global macro data.
