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The crypto market is pulling back even after the US Federal Reserve delivered its third straight 25 bps rate cut. The cut was fully priced in, and the hawkish tone that followed is now weighing on risk assets. Since yesterday’s high, the total crypto market cap has fallen 5.6%, dropping to nearly $3.05 trillion.
Bitcoin is down 2.5% in the past 24 hours, while Ethereum has slipped 3.5%. Most large-cap altcoins are red as well. Solana is down 6%, and Cardano is down 7%. Among the top 100 tokens, Pump.fun (PUMP) is today’s biggest loser, falling over 9%.
In the news today:-
Important note: this is not the old Terra Classic (LUNC), which remains a separate chain.
The total crypto market cap (TOTAL) has slipped from yesterday’s high, falling about 5.6% to $3.05 trillion. Over the past 24 hours alone, it is down close to 3%, showing that buyers are hesitant even after the 25 bps rate cut from the Federal Reserve.
The problem is simple. The rate cut was already priced in, and the Fed’s tone turned more cautious. Powell noted that the labor market is cooling and inflation is still “somewhat elevated.” Markets read this as stagflation risk, not easing. That shift weakened crypto almost immediately.
The chart reflects the same mood. TOTAL lost almost $179 billion since yesterday’s peak and is now sitting just above the $3.01 trillion support. A break below this level opens the door to $2.73 trillion, which is where the next strong base sits.
TOTAL Price Analysis: TradingView
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But if conditions improve, TOTAL could recover. A close back above $3.24 trillion would confirm strength and flip short-term momentum upward again.
For now, caution dominates. The Fed delivered cuts, but not comfort — and the crypto market is trading with that tension.
Bitcoin is down about 2.5% in the past 24 hours, but is still holding the $90,000 level. This level remains the most important near-term support, especially after yesterday’s Fed-driven volatility.
Over $437 million in leveraged positions were liquidated in the 12 hours after the Fed rate cut, including more than $161 million in BTC liquidations.
This shows how aggressive the unwinding was during the first wave of selling. Even with this pressure, Bitcoin has managed to stay above $90,000, which keeps the structure stable for now.
If the $90,000 floor breaks, the next major support sits near $88,100. Losing that level would likely pull traders into a deeper correction and confirm that the pre-Fed bounce has faded.
Bitcoin Price Analysis: TradingView
For buyers, the path is clear but difficult. Bitcoin needs a full daily close above $94,600 to neutralize the recent sell-off. That move would rebuild momentum and reopen the path toward the $98,900 region.
Right now, the chart shows a coin that is under pressure but not broken. Liquidations hit hard, and sentiment is mixed, but as long as BTC stays above $90,000, the downside remains controlled.
Pump.fun (PUMP) is one of the weakest performers in the top 100 today. The token is down 9.1% in the past 24 hours and has dropped almost 40% over the past month. Since yesterday’s high alone, PUMP has fallen another 11.99%, showing how heavy the sell pressure remains.
PUMP is trading near $0.0027 at press time. The key level to watch on the downside is $0.0026. Yet, if it breaks, the next major floor sits at $0.0024. A move under $0.0024 would confirm that sellers still control the trend and could extend the decline further.
PUMP Price Analysis: TradingView
On the upside, PUMP needs a move above $0.0032 to show early signs of strength. A clean break above this level would open a short-term recovery toward $0.0036. That remains the next strong resistance and the barrier that PUMP must reclaim to shift momentum.
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