BTC Erases Wednesday's Spike, JPM Warns of Stock Crash

Bitcoin and the broader crypto market fell back into the red after a brief rebound on Wednesday, with Bitcoin trading at approximately $121,875.74, reflecting a 0.84% decline. This drop followed the release of Fed minutes that suggested a bias toward more rate cuts. Market analysts attribute the recent downturn to the strengthening dollar index, which diminishes the appeal of USD-denominated assets, including cryptocurrencies. Compounding market uncertainties, the ongoing U.S. government shutdown has traders in a holding pattern ahead of expected remarks from Fed Chair Jerome Powell. In other news, Solana's Helius plans to acquire a portion of its supply, and Coinbase launched DEX trading within its app. Traditional markets showed mixed results, with gold prices remaining above $4,000, and JPMorgan's CEO expressed concern about a potential major stock market drop in the near future. Overall, the crypto market remains watchful amidst these developments as traders navigate through conflicting signals from both crypto and traditional financial landscapes.

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