Crypto Update Today, October 30: Powell Stated No Additional Rate Reductions, Trump and China Reached Agreements, Yet Bitcoin Price Is Plummeting | Is This the End for Crypto?
The crypto markets are experiencing turbulence once more. In spite of the rate cut from Powell, improving relations between Trump and China, and a consistent macroeconomic forecast, Bitcoin’s price continues to decline.
Currently, Bitcoin’s value is teetering just above $110K, having dropped approximately 2% in the last 24 hours. Many anticipated a surge following gold’s retreat from its peak, yet crypto is instead encountering what appears to be a lack of confidence.
Typically, a rate cut by Powell spurs risky investments, allowing traders the flexibility to increase their exposure due to lower interest rates. However, this time it didn’t pan out that way. Jerome Powell’s 25 basis point reduction to the 3.75–4.00% bracket was accompanied by a strong statement of “no further cuts this year,” delivering a dovish yet pessimistic outlook that dashed hopes of a December reduction.
As per FedWatch data, the likelihood of an additional cut plummeted from 98% to roughly 70% immediately following Powell’s statements.
(source – CME fedwatch)
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Impact of Powell’s Rate Cut on Bitcoin’s Price Decline
Before the update, Bitcoin’s price was already under pressure, dropping from $115,000 to about $110,000, resulting in lower daily chart highs. Additionally, data shows a decrease in trading volume as investors shift resources into stocks. Market fluidity measures from DeFiLlama show a similar decline, with total value locked in Decentralized finance dipping 0.6% overnight, indicating many investors are sitting on the sidelines.
(source – Defillama)
Despite gold’s descent from its peak, cryptocurrencies haven’t received their usual price floor. Trading market watchers attribute this to Powell’s cautious stance, signifying that liquidity will not pervade the crypto market shortly.
The Fed acted as anticipated—a 25bps rate reduction, but Powell’s remarks are leaving traders anxious. The second consecutive cut was already factored in, but the major change is the end of QT.
Beginning in December, instead of allowing MBS to mature, the Fed will reinvest in… pic.twitter.com/P1ZzFwtqdt
— Marcos Crypto (@MarcosBTCreal) October 30, 2025
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Trump-China Agreements Failing to Boost Bitcoin Price
Concurrently, the Trump-China trade updates were expected to provide a boost. Tariffs have reportedly been reduced from 57% to 47%, and China committed to resuming substantial U.S. agricultural imports. Historically, aggressive rhetoric from Trump regarding China leads to crypto market declines, yet this time, his agreement with Xi Jinping was anticipated to be favorable. Instead, the price of BTC plummeted rather than surged.
OUTCOMES FROM TRUMP & XI MEETING!
1. Fentanyl Tariffs Reduced to 10%.
2. Overall tariffs on China lowered from 57% to 47%.
3. China to “discuss” chip limitations with Nvidia.
4. “No more barriers on rare earths”
5. US and China to cooperate on Ukraine. pic.twitter.com/HVCQZhp9hx
— Crypto Rover (@cryptorover) October 30, 2025
Experts suggest that rampant optimism prior to the agreement led to profit-taking afterward. Post-deal, withdrawals from BTC available volume pools indicate institutional investors are restructuring their portfolios for year-end, reducing their crypto holdings to secure cash inflow.
The Powell rate cut has hindered short-term momentum, while the progress between Trump and China failed to revive it. Bitcoin’s annual increase remains over 52%, yet short-term weakness continues to dominate.
Is this the end for crypto asset? Absolutely not; Bitcoin remains a million-dollar asset, and crypto asset is here to remain.
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