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Bitcoin (BTC) faced selling pressure before the Fed rate cut decision on December 10. The broader crypto market also came under selling pressure.
From a macro standpoint, this week holds crucial importance for investors. BTC and ETH showed volatility. Other altcoins experienced turbulence ahead of key decisions.
Bitcoin, Fed Rate Cuts, Jobs Data, and More
The BTC price is currently down 2%, moving back to $90,000, as bulls find it tough to break past the $93,500 resistance. Key macro events scheduled between December 9-11 will decide the next move in the market.
The U.S. JOLTS job openings report is set for release on December 9, with expectations at 7.2 million openings.
If the data comes below the market expectations, it will indicate weak labour demand and increase the likelihood of Fed rate cuts. This will be bullish for the crypto market from a liquidity standpoint.
However, if job openings are higher than expected, it reduces the chances of faster Fed rate cuts in 2026. On December 10, the US Federal Reserve will announce its rate cut decision.
Markets currently price in a 25 bps rate cut with 94% probability. For now the focus shifts to post-FOMC remarks from Fed Chair Jerome Powell.
Bank of America anticipates Powell may hint at “reserve management purchases.” This signal of potential liquidity injections is aimed at stabilizing funding pressures among smaller banks. Such measures would help normalize SOFR and boost broader market liquidity.
On December 11, the US will release the Producer Price Index (PPI) inflation data. A hotter-than-expected reading would raise inflation concerns and trigger a risk-off response in markets. However, a softer PPI print would indicate cooling inflation and support a more bullish outlook.
How Bitcoin Price Could React to Macro Events
Bitcoin continues to show a strong correlation with broader macroeconomic indicators. This is particularly true for U.S. yields, the strength of the dollar, and overall liquidity conditions.
When U.S. yields decline, Bitcoin tends to move higher. A weaker dollar also supports upward momentum in BTC, while increases in market liquidity generally act as a tailwind for the cryptocurrency.
Historically, Bitcoin has led market rallies when the Fed shifted dovishly and inflation cooled. Ethereum typically follows, with altcoins gaining strength once liquidity expectations broaden.
Thus, a dovish Powell combined with soft inflation could trigger a Bitcoin breakout and renewed altcoin momentum. However, a hawkish tone would likely pressure BTC and the broader crypto market, extending recent weakness.
FOMC To Decide The Fate of BTC, ETH
Bitcoin trades around the $90,000 level. Market analyst Ted Pillows said momentum is capped by a slowdown in ETF inflows.
The reduced demand has limited Bitcoin’s ability to break above the $93,000–$94,000 resistance zone. Investors are now focused on the upcoming FOMC meeting scheduled for tomorrow, he added.
Market analyst Crypto Tony expects greater volatility ahead of the FOMC announcement on December 10. According to Tony, traders should be prepared for potential “fake outs” as price swings intensify.
He added that a move down to the $87,500 level would be an ideal setup before Bitcoin attempts a rebound.
On the other hand, the Ethereum (ETH) price has managed to hold above $3,100 level. Popular market analyst Ted Pillows noted that ETH has a strong buying interest between $3,000 and $3,100. On the upside, he identified a major resistance zone between $3,300 and $3,400.
Pillows said a decisive breakout could occur above this range. Strong trading volume would support the move. The breakout could pave the way for a rally. Prices may reach $3,700–$3,800 in the coming weeks.
