Asia Open: Bitcoin Drops Below $100K as Fed Dents Rate-Cut Hopes
Bitcoin fell below the psychologically important $100,000 mark during Asian trading as traders pared back expectations for a US rate cut following hawkish comments from Federal Reserve officials. The recalibration pushed Wall Street futures and global equities lower, with investors reassessing the outlook for growth-sensitive and high-beta assets. The pullback highlights how quickly crypto can react to shifts in macro policy sentiment.
The development matters because higher-for-longer rates compress risk appetite and can lift real yields, a headwind for assets priced for low rates. Market participants will watch upcoming US inflation data and Fed speeches for fresh clues, while volatility could rise if sentiment shifts further. For traders and holders, the move underscores the need to monitor macro updates alongside on-chain indicators as portfolios adjust to a less dovish Fed trajectory.