Bitcoin at $111,000...“Further Rate Cuts Not Certain,” Says Powell [Crypto Briefing]

[Financial News] On the 30th, Bitcoin (BTC) fell to the $111,000 level. Although the Federal Reserve System (Fed) implemented a rate cut, growing uncertainty over additional rate reductions within the year is seen as a key factor.
According to CoinMarketCap, as of 10 a.m., BTC was trading at around $111,000, down 1.76% over the past 24 hours. Over the past week, BTC has risen by 2.49%.
In the Korean won market, BTC is trading at approximately 165 million KRW. According to Cryprice, a global digital asset price comparison platform, the Korea premium stands at 5.17%.
On the 29th (local time), the Fed lowered its benchmark interest rate by 0.25 percentage points. This marks the second consecutive month of 0.25 percentage point cuts.
Historically, when interest rates are cut, the value of fiat currencies tends to weaken, leading to increases in assets such as cryptocurrencies, gold, and stocks.
However, the Fed dampened expectations by maintaining a hawkish tone even as it cut rates. Jerome Hayden Powell, Chair of the Fed, stated, “There was strong disagreement at this meeting about how to proceed in December, and an additional rate cut at that time is not a foregone conclusion.”
Market sentiment is also showing signs of concern. According to Alternative, a global digital asset data provider, the Fear and Greed Index stood at 34, indicating a 'fear' level.
The New York Stock Exchange (NYSE) also showed mixed results. On the 29th (local time), the Dow Jones Industrial Average (DJIA) closed at 47,632.00, down 0.16% from the previous day. The S&P 500 Index (S&P 500) ended slightly lower at 6,890.59, down 0.30 points (0.00%).
At the same time, Ethereum was trading at around $3,922, down 1.38% from the previous day. XRP was down 1.82% at approximately $2.56.

yimsh0214@fnnews.com Im Sang-hyuk Reporter