Bitcoin News Today: Bitcoin Faces $62K Drop Threat Amid Fed's Data Silence Predicament

Bitcoin Faces $62,000 Drop Threat as Fed Policy Remains Unclear

The crypto market is currently unstable as

(BTC) trades close to $103,000, and due to ongoing ambiguity around Federal Reserve actions and the aftereffects of the 43-day U.S. government shutdown. The shutdown , resulting in a "data blackout" that has complicated the Fed’s policy decisions. Federal Reserve Chair Jerome Powell has , while Cleveland Fed President Beth Hammack stressed the importance of keeping policy "somewhat restrictive" to address persistent 3% inflation.

After the government reopened on November 13, crypto markets saw a brief boost, with

and beginning to show accumulation patterns. Still, the overall market remains vulnerable. (IBIT), the top spot Bitcoin ETF, manages $82 billion in assets but has experienced inconsistent inflows since the October downturn, reflecting caution among large investors. The total assets under management for U.S. spot Bitcoin ETFs have reached $140 billion, up 40% since January 2025, yet from its October high.

Expectations for Federal Reserve rate cuts have become a mixed blessing for Bitcoin. While a more accommodative stance could weaken the dollar and benefit riskier assets,

, a steep fall from 95% at the start of November. This unpredictability has shaken investor sentiment, though to BlackRock’s ETF demonstrates ongoing institutional optimism despite volatility. At the same time, , indicating that long-term investors are buying during the downturn.

Meanwhile, the U.S. Bitcoin mining industry faces its own hurdles. Even with

to 37.75% by year’s end, American miners are still lagging behind international rivals who benefit from stronger government backing. have not yet resulted in federal support, forcing U.S. miners to grow operations without policy assistance.

With the Fed’s December meeting approaching and October CPI figures still unavailable,

. At present, against broader economic challenges, making November a pivotal month for direction.