Analysts say the crypto market has already priced in Wednesday's interest rate cut, but the Federal Reserve remains divided on an additional cut in December. The Federal Reserve Open Market Committee (FOMC) announced a 25 basis point interest rate cut on Wednesday, bringing the target Federal Funds rate down to 3.75%-4%. Wednesday’s rate cut was “fully priced in” by investors, who widely anticipated the decision, according to Matt Mena, a market analyst at investment company 21Shares. Mena also forecast: Asset prices remained flat or fell by modest amounts on Wednesday following the FOMC decision, with the price of Bitcoin (BTC) falling by about 2.4% at the time of writing, following Federal Reserve Chair Jerome Powell’s comments signaling that FOMC members are divided on a December rate cut. Read more
Bitget’s liquidity gains mirror an industrywide shift as exchanges such as Binance, OKX and Crypto.com compete to attract professional and institutional traders. Singapore-based crypto exchange Bitget has seen an uptick in institutional participation, with institutional traders now accounting for roughly 80% of total volume as of September, according to a report by Bitget in collaboration with blockchain analytics platform Nansen. The report noted that institutional activity on Bitget’s spot markets climbed from 39.4% of total volume on Jan. 1 to 72.6% by July 30. Futures trading saw an even more dramatic shift, with institutional market makers growing from just 3% of activity at the start of 2025 to 56.6% by late July. The study identified liquidity as the key measure of institutional adoption in crypto, noting that Bitget’s order-book depth, spreads and execution quality now match peers such as Binance and OKX across major trading pairs. Read more
A Chinese blockchain event was reportedly cut short on Tuesday due to overcrowding, but some attendees expressed concerns over the country's recent crackdowns. Some members of Solana’s Chinese community have reportedly expressed concerns that attendees were denied entry to a blockchain event as the country continues its crackdown on digital assets. According to a Wednesday report from the South China Morning Post, the Solana Accelerate APAC series event being held in Shenzhen on Tuesday was cut short amid claims of overcrowding, “leading the local police to conduct an inquiry on site.” Event organizers confirmed the venue had exceeded capacity and canceled the final hackathon “for public safety,” per the report. The police presence, however, reignited concerns on social media, with attendees reportedly expressing concerns about the country’s enforcement of crypto and blockchain. Read more
Bitcoin price fell to $109,200 despite the Federal Reserve confirming a 0.25% interest rate cut and the end of quantitative tightening. Traders expect future rate cuts, so why is BTC falling? Key points: Bitcoin’s sell-off accelerated after the Federal Reserve cut rates by 25 basis points. Weakness in crypto shows traders are looking at macroeconomic headwinds like a weakening jobs market and inflation, despite believing that interest rate cuts will continue into 2026. Read more