Too late, Powell — you did it again. The Fed finally cut rates, but late in the game.
The market waited all year for this moment, and now, in September and October, we got two back-to-back 25 bps cuts. Unfortunately, markets might have already priced it in. Bitcoin and other risk assets instantly dumped right after the announcement.
Let’s go through the most important crypto news and airdrop updates of this week.
Bitcoin Price Crashes to $109,000 as Powell Stays Neutral on Future Cuts
Bitcoin’s price fell to $109,000 on Wednesday afternoon after Fed Chair Jerome Powell said more rate cuts might not come in December. Since then, BTC stabilized around $111,000.
The 0.25% reduction brought the benchmark rate down to 3.75%–4%, marking the second cut of 2025 after September’s move. The goal is to ease borrowing and boost spending, but Powell’s “no guarantee” message triggered a sell-off across risk assets.
Bitcoin traded near $116K before the announcement, dipped below $111K, briefly bounced, then crashed to $109K during Powell’s speech.
He said inflation “isn’t far” from the 2% target but admitted there’s no consensus on December’s plan. Futures markets quickly priced out another cut — now showing just a 71% chance versus 90% earlier in the day, according to CME data and prediction markets like Kalshi and Polymarket.
The two-year Treasury yield jumped 9 bps, signaling traders expect fewer cuts ahead. Historically, Bitcoin has reacted fast to monetary moves — like the 39% drop after the emergency cuts of March 2020.
This time, however, the muted response shows the market saw it coming.
Airdrop Claims & Updates
If you’re farming, stay sharp — here’s what’s hot in airdrops right now:
- Metamask registered a new domain for airdrop claims. Details here: Metamask Perps Airdrop
- Ostrich revealed eligibility rules — 30 million RICH tokens up for grabs
- ApeX launched the Kaito AI creator campaign with a $100K prize pool until January
- 375ai $EAT allocation checker is now live
- Soneium Score Season 3 has officially started
- Polymarket announced a token and an airdrop. More info here.
- Aster Buy Back and Burn has started.
Check these regularly — some of them can pay off with just one qualifying transaction.
Zcash (ZEC) Surges 100% in 10 Days
Zcash (ZEC) is back in the spotlight — doubling in 10 days to $374, its highest level in seven years.
The rally started after Arthur Hayes threw a $10,000 target on ZEC, and softer U.S. CPI data added more fuel. Privacy coin peers like Monero (XMR) haven’t followed, making ZEC’s move stand out.
ZEC has traded between $25 and $300 since 2020. After briefly dipping below $25 in 2024, the coin exploded +2,200% to $374. Traders now eye a breakout above ATH territory — if it clears this final resistance zone.
MegaETH ICO Oversubscribed by 20×
Earlier this week, we said we’d join the MegaETH ICO — and wow, what a ride.
The sale raised nearly $1 billion against a $50 million cap, making it 20× oversubscribed with 11 hours still to go.
If you haven’t joined yet, check if your wallet is eligible. With this kind of demand, allocations will be tiny, but even small entries might cook well on launch.
We hope you got in early — this one looks like a hot ticket.
Yuga Labs Announces Amazon Collab
At ApeFest Las Vegas, Yuga Labs dropped a bombshell — a partnership with Amazon.
Otherside will soon appear on the front page of Amazon Gaming, bringing Bored Apes to over 300 million Amazon users.
Michael Figge from Yuga said, “For this to work, we need to grow — and today we announce that Otherside will be on Amazon Gaming.”
He also unveiled “Voyagers,” a new Otherside platform that will collaborate with artists for custom skins and characters. The first collectible, Boximus, drops Thursday in collaboration with Amazon.
It’s a massive move for metaverse adoption — and a clear signal that Web3 brands are starting to blend with Web2 giants.
Support Our Work
If you found this helpful, consider signing up on BloFin (Non-KYC) or Bybit using our referral links. Your support keeps this content free and flowing.
Final Words
October’s rate cuts were supposed to be a bullish trigger, but markets were already ahead of Powell.
Bitcoin dumped, airdrops keep cooking, and ZEC came out of nowhere to steal the week.
Whether you’re trading the rate moves or farming airdrops, stay sharp — the market is rewarding the early and punishing the late.
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Blofin. See you next time!
Credit: Source link
