Bitcoin price: Unexpected developments
As of 5:51 p.m. today (December 11), Bitcoin - the world's largest cryptocurrency in terms of market value rotated down 2.33% to 90.232.27 USD.
This new price contributes to bringing market capitalization to 1,801 billion USD, down 54 billion USD. In contrast, trading volume in the 24 hours was at 69.64 billion USD, up 4.72 USD.
Assessment and forecast
Bitcoin (BTC-USD) and Ether (ETH-USD) prices fell despite the US Federal Reserve (Fed) cutting interest rates. Fed Chairman Jerome Powell also signaled that the central bank will be cautious towards 2026.
The Fed lowered the benchmark interest rate by 25 basis points to 3.50% - 3.75%. Although this move was predicted, the voting rate at the Federal Open Market Committee (FOMC) and Mr. Powell's voice at yesterday's press conference have undermined the psychology of the cryptocurrency market. One official supported a cut deeper than 50 basis points, while the two opposed the cut.
According to Coinglass data, the derivatives market saw heavy losses, with $440 million liquidated just hours after the Fed's interest rate decision. The buying positions accounted for 334.8 million USD, while the fake sales reached 105 million USD, amid increased fluctuations.
Fabian Dori - Investment Director of Sygnum Bank said that the cryptocurrency market is still very sensitive to macro signals.
"The 25 basis point cut has been largely priced in, but the story is more important for investors facing the year-end volatility period," he said.
He added that broad economic conditions still support the long-term adoption of cryptocurrencies. "L equity conditions will gradually improve in 2026, and business cycle indicators continue to show a solid, fundamentally stable growth momentum," Dori said.
He noted that Bitcoin's recent trading range and psychology suggest that much of the latest market leverage may have been released. "The basic factors on the chain, the allocation framework for organization and progress regulations continue to bring a favorable medium-term wind. The key moment is now," said Dori.
Fed Chairman Jerome Powell's press conference after the FOMC meeting sounded slightly dovish at some points, but still emphasized caution with inflation risks and the labor market. He said 75 key cuts since September have put monetary policy in a neutral zone, and the Fed is well placed to see how the economy goes.
The Fed's own forecast shows that officials are expecting just one more rate cut in 2026 after the December decision.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
