cryptocurrency marketSelling pressure gained strength again. Bitcoin 
$105,354.18fell to the level of $ 103,000 as investors increased their profit sales and the possible interest rate cut in December became uncertain. Ethereum 
$3,579.97XRP and Solana also experienced sharp declines.
Profit Sales and Liquidations Pressured the Price
CryptoAppsy according to data Bitcoin It decreased by 3 percent in the last 24 hours to $103,222. Ethereum decreased by 4.7 percent to $3,434, XRP decreased by 5.3 percent to 2.4 dollars, solana It decreased by 8.85 percent to $154.76. Bitcoin rose to $106,600 with a short-term recovery attempt at the beginning of the week, but when it could not overcome the resistance zone at $107,000, the selling wave deepened.
CIO of Kronos Research Vincent LiuAccording to , the main reason for the decline was the intense profit sales and liquidation of long positions following the unsuccessful resistance attempt. Liu stated that technical weakness continues and $ 100,000 stands out as the new psychological support level. “The macro relief rally was short-lived,” Liu said, noting that a possible breakout could trigger a new wave of liquidations.
US SenateAlthough the approval of the bill ending the record-long government shutdown increased the risk appetite for a short time, market players preferred to remain cautious. Bitcoin’s recovery effort this time succumbed to structural selling pressure.
Fed Divided in Two: December Phase Decision Uncertain
cryptocurrency The December meeting of the US Federal Reserve (Fed) once again became the focus of the market. The expectation of a rate cut by the end of the year has been the main bullish factor in the cryptocurrency market for weeks. But the Fed Chairman Jerome Powell‘s statement that “December discount is not certain” limited this optimism.
According to the Wall Street Journal, among Fed members interest rate reductionThere is increasing disagreement regarding the timing of the CME Group’s FedWatch Tool data shows the probability of a rate cut at the December 9-10 meeting as 66.9 percent.
Presto Research Analyst Min JungHe stated that a possible interest rate cut could revitalize the market, but it has already been largely reflected in the prices. “A definitive discount may strengthen risk appetite, but markets have already priced in the 70 percent possibility,” said Jung, adding that a stronger macro signal is needed for a new rise.
