The crypto market is doing that thing again where it pretends the Federal Reserve doesn't exist, then remembers it does, then gets back to business. Bitcoin (BTC) bounced back above $91,000 Thursday, shaking off the post-Fed wobbles that hit after Wednesday's entirely predictable 25 basis point rate cut.
Here's where the major cryptocurrencies landed:
| Cryptocurrency | Ticker | Price |
| Bitcoin | BTC | $91,110 |
| Ethereum | ETH | $3,207.67 |
| Solana | SOL | $134.99 |
| XRP | XRP | $2.01 |
| Dogecoin | DOGE | $0.1391 |
| Shiba Inu | SHIB | $0.058405 |
The Carnage Report
It wasn't all sunshine and rate cuts. Coinglass data shows 148,737 traders were liquidated over the past 24 hours, hemorrhaging $502.16 million in the process. That's what happens when leverage meets volatility meets Federal Reserve announcements. The past day's biggest losers included Pudgy Penguins, Cardano, and Sei.
What's Happening in Crypto Land
Beyond the price action, the crypto world kept spinning. Corporate Bitcoin adoption has apparently slowed after peaking in July. Meanwhile, Vivek Ramaswamy's Strive launched a $500 million preferred stock offering aimed at acquiring Bitcoin. Coinbase made a Solana integration move that analysts think could set SOL up for a 10% rebound if certain conditions align. And Binance's founder had thoughts about a lottery winner who made what he called "the worst financial decision of her life" by squandering generational wealth.
The Technical Picture
Trader Michael van de Poppe pointed out something interesting: both the Nasdaq and Bitcoin dipped after the Fed announcement to flush out overleveraged long positions. But here's where it gets intriguing. The Nasdaq has already fully reversed course and reclaimed the 25,700 level. Bitcoin, meanwhile, is still sitting $2,500 to $3,000 below its pre-dip levels.
That divergence matters. Van de Poppe suggests Bitcoin might be due for a catch-up rally, potentially materializing when U.S. markets open today or tomorrow.
Crypto trader Jelle offered another perspective, noting that Bitcoin continues maintaining its pattern of higher lows and higher highs as it grinds toward reclaiming $93,000. With the weekly close approaching, whether Bitcoin successfully reclaims that level or faces rejection will determine if the chart looks constructive or concerning going forward.
The question now is whether Bitcoin can sustain this momentum and close the gap with traditional markets, or if it needs more time to digest the Fed's latest moves before making another run higher.