CoinEx Daily: Bitcoin Drops Sharply as Rate Cut Bets Diminish amid Fed Hawkishness and Market Liquidations

Bitcoin fell to $98,000 as crypto markets suffered another steep drop, with liquidations surging to $748 million in the past 24 hours. Hawkish signals from Federal Reserve officials and a decline in market odds for a December rate cut to 50.7% have weighed heavily on sentiment across both crypto and equities. Asian stock markets opened broadly lower as macro headwinds persist and U.S. crypto-related stocks also declined.