Bitcoin Tumbles Below $111K After FOMC Interest Rate Cut As Powell Signals December Move ‘Far From’ Certain
The Bitcoin price tumbled 2% in the past 24 hours to trade at $111,230 as of 3:36 a.m. EST on trading volume that jumped 9% to $73.6 billion. The BTC drop came as the crypto market turned sharply lower on Tuesday after Federal Reserve Chair Jerome Powell said another interest rate cut in December is far from certain. Powell: A December rate cut is "far from" a foregone conclusion Markets did NOT like that pic.twitter.com/EjrmJIAqLG — Morning Brew ☕️ (@MorningBrew) October 29, 2025 Speaking after the October Federal Open Market Committee (FOMC) meeting, which cut rates by 25 basis points, Powell said the US labor market is weakening while inflation remains “somewhat elevated.” He added that higher tariffs are adding to price pressures, which in turn creates a tricky balance for the central bank. The Fed decided to end its balance-sheet runoff starting December 1, saying reserves have reached levels consistent with ample liquidity, signaling that qu...