Bitcoin reclaims $110k after Fed rate cut sparks volatility: check forecast

The cryptocurrency market has been extremely volatile in the last 24 hours after the FOMC meeting.

While analysts expected a pump in Bitcoin’s price, the market turned red, with over $300 million worth of leveraged positions liquidated from the market within hours.

Fed cuts interest rate, Bitcoin tumbles to $108k

The primary event of October took place yesterday (Wednesday, October 29), with the Federal Reserve doing exactly as analysts had predicted.

The Fed cut interest rates by 25 basis points, making it the second time it has done so this year.