Bitcoin rebound limited despite US Federal Reserve rate cut… Staying within the $92,000 range

Source: BlockMedia Original Title: [Coin Market] Limited Bitcoin Rebound Despite US Rate Cut… 92,000 Dollar Range Continues Original Link: On the 11th, Bitcoin is trading around 92,000 dollars. Last night, the US Federal Reserve(Fed) cut the benchmark interest rate by 0.25 percentage points, but market gains were limited. This is due to Jerome Powell’s somewhat hawkish remarks and another variable, the Bank of Japan(BOJ)'s interest rate decision.

As of 8:30 a.m. today, Bitcoin(BTC) is trading at 137 million 370 thousand won, down 0.15% from 9 a.m. the previous day on Upbit, a domestic digital asset exchange. At the same time, on a global exchange, it is trading at 92,104 dollars, down 0.78%. Ethereum(ETH) is up 0.03% at 3,328 dollars, and XRP(XRP) is down 2.94% at 2.05 dollars.

According to CoinGlass, approximately 104.2 million dollars(about 147.2 billion won) worth of positions were liquidated in Bitcoin over the past 24 hours, with about 62.9% being long(buy) positions. In the overall digital asset market, approximately 317.1 million dollars(about 44.24 billion won) were liquidated.

On the 12th(local time), the US Federal Reserve slightly cut the benchmark rate to 3.5–3.75%. However, during the same day’s Federal Open Market Committee(FOMC) meeting, Chairman Jerome Powell stated, “There are still upside risks of inflation, and downward pressures on the labor market are increasing, so there is no risk-free path in policy management,” maintaining a cautious stance.

IBK Investment & Securities researcher said, “Although it was a hawkish FOMC, the impact related to the rebound in US short-term interest rates has already been reflected, and there seems to be little room for further increases at the current level,” adding, “The Fed’s indication of liquidity supply through short-term Treasury bond purchases is a positive factor.”

While Powell’s remarks were not as hawkish as expected, the market’s prevailing outlook is that the Fed will only implement one rate cut by 2026.

“The Fed will focus on liquidity management policies such as balance sheet reduction in early 2026,” and “Although today’s Treasury bond purchase was carried out, quantitative easing(QE) will not resume until serious cracks appear in the financial system,” some analysts said.

There is also growing speculation about the possibility of the Bank of Japan(BOJ) raising interest rates. Governor Kazuo Ueda has previously indicated that the December meeting will discuss whether to raise rates. Subsequently, market expectations for a rate hike in December have surged to about 90%.

The BOJ has so far postponed additional measures after January, when Trump’s US administration’s tariff policies were monitored for their impact on Japan’s economy and prices. However, recent internal assessments suggesting limited economic impact from tariffs have gained traction, and there are increased expectations that the BOJ may tilt towards raising rates again.

The Bank of Japan’s monetary policy meeting is scheduled to be held on the 18th–19th(local time). The market expects the policy rate to rise to around 0.75%.

“The next major event is the Bank of Japan’s meeting,” and “JGB(Japanese Government Bond) yields have reached multi-decade highs, prompting internal discussions within the BOJ about the need to slow down,” one source said.

Additionally, there is concern that if the BOJ implements unexpected policies amid an overheated yen carry position, volatility could spread across global markets.

Meanwhile, the Alternative Fear & Greed index, which indicates investor sentiment in the digital asset market, rose to 26 from 22 yesterday. The Alternative Fear & Greed index suggests that closer to 0 indicates strong selling pressure, while closer to 100 indicates a strong buying tendency.