K33: Bitcoin Slips Back Below $90K — Crypto Correction Now Ranks Among Worst Since 2017s
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After a rare spot of outperformance on Tuesday, bitcoin has resumed sliding, with one analyst eyeing $84,000–$86,000 as potential local bottom.
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After a rare spot of outperformance on Tuesday, bitcoin has resumed sliding, with one analyst eyeing $84,000–$86,000 as potential local bottom.
[Federal Reserve Releases Minutes of October 28-29, 2025 FOMC Meeting] The Federal Reserve on Wednesday released the minutes of the October 28-29, 2025 Federal Open Market Committee (FOMC) meeting. The minutes are typically published three weeks after the policy decision date and are based on information about economic and financial conditions available at the time of the meeting. The minutes can be accessed on the Federal Reserve's official website. Media inquiries can be sent via email to media@frb.gov or by calling 202-452-2955. The minutes are available in both HTML and PDF formats.
[Federal Reserve Meeting Minutes Show Some Participants Oppose Rate Cuts] The Federal Reserve meeting minutes reveal that several participants expressed opposition to rate cuts.
[A whale's long position of 17,804 ETH liquidated, with unrealized losses exceeding $10 million] On November 20, MLM monitoring showed that a whale address had been holding a long position of 17,804 ETH (valued at approximately $51.5 million) for over three weeks. After employing a Martingale strategy to add positions during the decline, the position was forcibly liquidated. Since late September, the unrealized losses across the whale's two accounts have exceeded $10 million.
[Probability of the Federal Reserve keeping interest rates unchanged rises to 66%, crypto market experiences short-term plunge] Polymarket data shows that the probability of the Federal Reserve keeping interest rates unchanged in December has risen to 66%, with total trading volume in this market reaching $119 million. Market data indicates that BTC briefly fell below $89,000, ETH dropped below $1,900, and $163 million was liquidated across the network in the past hour, primarily from long positions.
[Fed December Rate Cut Expectations Cool, Traders Adjust Market Pricing] After the U.S. Bureau of Labor Statistics confirmed it would not release the October employment report, traders now anticipate that the Federal Reserve is more likely to pause rate cuts at its December policy meeting. The federal funds futures market saw a sell-off, with traders reducing expectations for a 25-basis-point rate cut at the December 10 meeting, instead projecting the benchmark rate to remain in the 3.75% to 4% range. The swaps market, which is tied to the Fed's policy rate, priced in a 6-basis-point rate cut for the December meeting and a cumulative 19-basis-point cut by January. Lord Abbett portfolio manager Leah Traub stated that the unemployment rate data for November will only be released after the Fed meeting, which reduces the likelihood of a rate cut.