Investors are cutting back on risky assets amid fading hopes that the Federal Reserve (Fed) will lower rates by the end of the year. Summary The crypto market crash has affected most key crypto assets. The probability of a December rate cut has dropped to just 33%. Bitcoin could fall to $75,000 if macroeconomic conditions continue to deteriorate. The crypto market is experiencing another sharp downturn today due to worsening macroeconomic conditions. On Thursday, November 20, Bitcoin lost 2.52%, falling to $86,585—its lowest level since April. Ethereum (ETH) dropped to $2,818, erasing all gains made since July. Altcoins showed even greater volatility. Solana’s price fell from an intraday high of $144 to $132, while XRP (XRP) broke the important psychological level of $2. Dogecoin (DOGE), the largest meme coin, fell from an intraday peak of $0.1591 to $0.1473. The main reason for this decline lies in general market conditions. Cryptocurrency is increasingly integrating with traditional finance, according to Jamie Elkaleh, Marketing Director at Bitget Wallet. While this is positive in the long term, it also subjects crypto markets to the full impact of Fed policy. “The sharp weakening of expectations for a Fed rate cut in December—now only 33%–50%… reflects a surge in macroeconomic uncertainty,” states Jamie Elkaleh from Bitget Wallet. “In the short term, reduced expectations for liquidity could pressure BTC and ETH flows, triggering ‘risk-off’ sentiment and temporary outflows from spot ETFs.” You might also be interested in: Bitcoin Under Pressure Due to Cooling ETF Demand: Analysts What Awaits BTC After the Crypto Market Crash? Analysts indicate that the short-term outlook is negative, but not catastrophic. Bitcoin’s (BTC) resistance level at $89,000 proved fragile, as the token periodically dropped below this level. After breaking through, the next target will be $85,000, according to Arthur Azizov, founder and investor at B2 Ventures. Excessive leverage, profit-taking, and an expected slowdown in corporate accumulation exacerbate the outlook for Bitcoin, notes Armando Aguilar, Head of Capital Formation at TeraHash. Nevertheless, he expects Bitcoin to recover unless macroeconomic conditions worsen further. “A deeper fall towards the $75,000–$78,000 range will only be possible if outflows accelerate and macro conditions shift into a ‘risk-off’ mode,” concludes Armando Aguilar from TeraHash. Crypto Overview CRYPTOCURRENCY | PRICE | 24H CHANGE +/- Bitcoin (BTC) | $86,768 | -2.4% Ethereum (ETH) | $2,830 | -1.6% Solana (SOL) | $132 | +1% XRP (XRP) | $1.99 | -2.6% BNB (BNB) | $875 | 0.0% Cardano (ADA) | $0.4332 | -1.5%
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