The minutes from the September Fed meeting, released on Wednesday, showcased a division among policymakers regarding the aggressiveness of the central bank’s actions. According to the minutes, “a substantial majority of participants” favored a half-percentage point interest rate cut, although there were concerns raised about the size of the cut.
As a result of these discussions, crypto sentiment has shifted back into the fear zone, with a rating of 39, in stark contrast to the greed rating of 72 in equities. Alex Kuptsikevich, a senior analyst at FxPro, explained this shift by pointing to the appreciation of the dollar and the increased attractiveness of bonds, which has diminished institutional interest in bitcoin.
The dollar index (DXY) surged to 102.97, reaching its highest level since August 16, with a cumulative gain of 2.7% since the low on September 30, according to data from TradingView.
