The Street
Smart traders cash in as Bitcoin tumbles after Fed’s 25 bps rate cut
The Federal Reserve's 25-basis-point rate cut on October 29 led to a sharp drop in Bitcoin's value, with over $550 million in crypto positions liquidated in a single day. Traders had anticipated the move and positioned themselves defensively before the announcement. Bitcoin's decline, despite a gold pullback and rising Nasdaq, has raised questions about its status as a safe-haven asset, with some analysts warning that it may not withstand changing macro signals from the Fed.
