Cryptocurrency

Fed Cuts Rates, U.S.–China Make Progress, Yet Bitcoin and Altcoins Fall: Weekly Crypto Recap

2025-10-31 6 views Admin

October is coming to an end,but despite all the hopes, big bullish predictions, and the Fed’s interest rate cuts, the crypto market still tumbled at the end of it.

But first, let’s go back to the end of the previous business week when BTC had recovered from a dip to $106,000 and stood close to $110,000 (again). It entered the weekend at those levels and failed to make a big move until Sunday afternoon. Once US Secretary Bessent hinted at a potential trade deal between Washington and Beijing, though, bitcoin went on the offensive and jumped past $113,000 on the same day.

It kept climbing on Monday and Tuesday, peaking above $116,000. However, it faced an immediate and forceful rejection at that point, which pushed it south to under $113,000 almost immediately. On Wednesday, all eyes turned on the US Federal Reserve as the US central bank lowered the key interest rates by 25 bps as expected.

However, this failed to have any positive influence on BTC. Just the opposite, the cryptocurrency slipped by a few grand within the next 12 hours to under $108,000. More good news on the macro front came on Thursday morning as Trump reduced the overall tariffs on China to 47% and hinted at a more impactful trade deal in the making.

Bitcoin bounced immediately and exceeded $111,500 within the next few hours. However, this rally was short-lived as well, and the asset headed south on the following day, dropping below $106,500 on Thursday afternoon. It has managed to recover some ground since then and is currently testing the $110,000 resistance.

This means that its weekly decline is just 0.6%, while many altcoins, such as ADA, DOGE, and AVAX, have posted more significant price drops. ENA, PEPE, UNI, and MNT lead in this manner, with losses of up to 16%. In contrast, HYPE and BCH have surged by 11%, HBAR by 17%, TAO by 21%, while ZEC rocketed by 44%.