Despite Fed rate cut, Bitcoin remains 'trapped rebound'… $93,971, still facing upper resistance level

Source: BlockMedia Original Title: [New York Coin Market/Closing] Despite Fed rate cuts, Bitcoin remains ‘trapped in rebound’… $93,000, resistance remains strong Original Link: The New York digital asset( virtual asset) market successfully experienced a short-term rebound following the Federal Reserve('s) announcement of a rate cut. However, the Fed’s cautious stance on further cuts and concerns over liquidity tightening at year-end continue to limit the market’s upper range.

According to CoinMarketCap, the global digital asset market cap is $3.17 trillion, down 0.78% from the previous day, while the CMC20 index of the top 20 market caps rose by 0.21% to 200.65. The greed and fear index stands at 30, maintaining the ‘Fear(Fear)’ zone, indicating that investor sentiment remains subdued.

Bitcoin(BTC) rose 0.17% from the previous day to $93,971. A temporary buying surge immediately after the Fed’s 25bp rate cut helped it rebound, but technically it has not surpassed the resistance around $95,000. Market analysts commented that “Fed’s purchase of treasury bonds for reserve management is positive for liquidity,” but policy uncertainty and year-end liquidity concerns still serve as hurdles.

Altcoins showed mixed movements depending on the asset. Ethereum(ETH) increased by 1.82% to $3,420, maintaining the strongest weekly gain of 9.30% among major coins. Binance Coin(BNB) rose slightly by 0.67% to $907. XRP(XRP) fell by 2.14%, continuing its bearish trend.

Solana(SOL) traded at $140, down 1.45%, while Tron(TRX) declined by 1.55%. Dogecoin(DOGE) also fell by 1.68%, with major tokens all showing weakness. However, Cardano(ADA) attempted a limited rebound, rising by 0.63%.

The Fed’s regular meeting resulted in a 25bp rate cut, bringing the target range to 3.50–3.75%. This is the third cut this year, aimed at addressing concerns over economic slowdown. Simultaneously, the Fed resumed short-term treasury bond purchases to stabilize reserves and liquidity but stated that future cuts would be “judged cautiously depending on economic indicators,” indicating a cautious stance.

Differences of opinion among Fed members were also evident in this meeting. Nine members supported the cut, while three opposed. Some members advocated for larger cuts or no change, highlighting internal divisions within the Fed.

Market experts suggest that this rebound may be a technical reaction to the policy event and may not be sustained. A senior industry director commented, “Bitcoin is still facing resistance at $95,000, and during the typically shallow liquidity period at year-end, a short-term box range is likely to persist.”

Industry analysts also noted, “Buy walls between $90,000 and $92,000 on some exchange order books are defending against short-term dips, but this does not indicate a trend reversal,” adding, “liquidity that could trigger a market shift has not yet flowed in significantly.”

Another strategist commented that “the 9-to-3 internal division within the Fed reduces confidence in future policy paths and could increase volatility in risk assets,” and warned that “if inflation fails to reach the 2% target by 2028, it will burden both Bitcoin and altcoins.”