The post December Rate Cut Odds Down to 33% As Crypto Market Sentiment Craters appeared on BitcoinEthereumNews.com. The odds of an interest rate cut at the December Federal Open Market Committee (FOMC) meeting have plunged to 33% as “extreme fear” grips the crypto market and the price of Bitcoin (BTC) dips below $89,000. Investors placed the odds of a December rate cut at about 67% during the first week of November, with the odds dropping below 50% on Thursday, according to data from the Chicago Mercantile Exchange (CME). Traders on prediction markets Kalshi and Polymarket forecast the odds of a December rate cut at about 70% and 67%, respectively. While higher than CME, traders in general appear more hesitant about rate cuts due to persistent fears about inflation, according to The Kobeissi Letter. Interest rate target probabilities for the December FOMC meeting. Source: CME Group The plummeting odds of a December rate cut and declining crypto prices have sparked a panic, with some analysts now warning that the downturn could signal the start of an extended crypto bear market and falling asset prices. Related: Bitcoin ETFs bleed $1.1B as analysts warn of ‘mini’ bear market at pivotal moment BTC dips under $89,000 as sentiment scrapes yearly lows The price of BTC fell below $90,000 again on Wednesday after failing to defend the key support level and has been trading well below its 365-day moving average, a critical support level, for the last six days. Bitcoin’s 50-day exponential moving average (EMA) has also crossed below the 200-day EMA. This signal, known as the “death cross,” suggests further downside for BTC. Bitcoin’s price action at the time of this writing. Price has closed below the 365-day moving average for the last six days. Source: TradingView Some analysts now forecast a drop to $75,000, where the price could bottom out before rebounding by the end of 2025, while others speculate… The post December Rate Cut Odds Down to 33% As Crypto Market Sentiment Craters appeared on BitcoinEthereumNews.com. The odds of an interest rate cut at the December Federal Open Market Committee (FOMC) meeting have plunged to 33% as “extreme fear” grips the crypto market and the price of Bitcoin (BTC) dips below $89,000. Investors placed the odds of a December rate cut at about 67% during the first week of November, with the odds dropping below 50% on Thursday, according to data from the Chicago Mercantile Exchange (CME). Traders on prediction markets Kalshi and Polymarket forecast the odds of a December rate cut at about 70% and 67%, respectively. While higher than CME, traders in general appear more hesitant about rate cuts due to persistent fears about inflation, according to The Kobeissi Letter. Interest rate target probabilities for the December FOMC meeting. Source: CME Group The plummeting odds of a December rate cut and declining crypto prices have sparked a panic, with some analysts now warning that the downturn could signal the start of an extended crypto bear market and falling asset prices. Related: Bitcoin ETFs bleed $1.1B as analysts warn of ‘mini’ bear market at pivotal moment BTC dips under $89,000 as sentiment scrapes yearly lows The price of BTC fell below $90,000 again on Wednesday after failing to defend the key support level and has been trading well below its 365-day moving average, a critical support level, for the last six days. Bitcoin’s 50-day exponential moving average (EMA) has also crossed below the 200-day EMA. This signal, known as the “death cross,” suggests further downside for BTC. Bitcoin’s price action at the time of this writing. Price has closed below the 365-day moving average for the last six days. Source: TradingView Some analysts now forecast a drop to $75,000, where the price could bottom out before rebounding by the end of 2025, while others speculate…