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** Crypto Market Drops Again, Rp8.5 Trillion Liquidated After The Fed Cuts Interest Rates**
The crypto market capitalization fell again by 2.51% to US$3.08 trillion, according to CoinMarketCap, Thursday (11/12) morning. As a result, 143,564 traders were liquidated with a total of US$510 million or Rp8.5 trillion, where Bitcoin was the largest contributor after dropping to US$89,000.
The catalyst was the Federal Reserve's (The Fed) decision to cut the benchmark interest rate by 25 basis points to 3.50%-3.75%, marking the last and third time in 2025.
This is because there are still differing opinions among institutions regarding this decision. Institutional investors are now shifting their focus on whether the Fed will only signal limited monetary policy easing for next year. Moreover, there are rumors that Jerome Powell will be fired before the end of this year.