New Delhi, Oct. 30 -- Powell's Shocking Hawkish Pivot Crashes Bitcoin Below $110K as Fed Signals End to Rate Cuts

The cryptocurrency market faced a sharp reversal Wednesday afternoon as Federal Reserve Chair Jerome Powell delivered what amounted to an unexpected policy pivot, signaling that the central bank's rate-cutting cycle may have effectively ended with October's 25-basis-point reduction. Bitcoin, which had held steady near $116,000 ahead of the announcement, plummeted to $109,000 in a dramatic sell-off that illuminated the fragile psychology underlying risk assets in an environment of persistent economic uncertainty.

The immediate trigger was Powell's carefully chosen remarks during his post-meeting press conference. While the Fe...