Bitcoin Plunges Below $82K: Can Fed Rate Cuts Rescue Crypto Markets?

Bitcoin recently experienced a significant downturn, dropping below the $82,000 mark. The cause of this decline is attributed to a combination of factors, including a recent coding error impacting stablecoins and the impact of the Federal Reserve’s interest rate cuts. Despite market expectations for easing, the fragmented liquidity landscape and ongoing instability remain major hurdles. 87% probability predicts a December rate cut, but experts highlight that these cuts alone may not be sufficient to revive crypto markets. 2024’s crisis is also likely to pose challenges, requiring further action beyond monetary policy adjustments.