Bitcoin whips under $116K, among the largest hourly corrections in two weeks. The risk of further pullback to $114,000

Bitcoin (BTC) traded at $116,320.13 at reporting time after the Federal Reserve maintained its target range between 4.25% and 4.50%, registering an hourly drawdown of 1.11% and below the $116,000 threshold.

This is the biggest revision recorded during an hour of trading since July 14, when BTC fell 1.14%.

Major Cap Altcoin has registered the same movement. Ethereum (Eth) slipped from 1.74% to $3,712.36 at press time, while Solana fell to $1.90%, down to $173.51, from 2.52% to $3.04 for XRP and $1.46% to $775.27.

This decline came in parallel with the speech of Federal Reserve Chairman Jerome Powell following the FOMC meeting. He emphasized that the pass-through of tariffs on prices was slower than expected, and that the current figures represent “a very beginning of tariff inflation.”

Powell reiterated that he has no intention of resigning, saying the Fed is committed to that double mission. Finally, he said there were no decisions regarding rate cuts in September. President Donald Trump said he heard that Powell will cut interest rates at the next FOMC meeting.

These developments from Powell’s speech were added to the front revision of the Fed’s statement that uncertainty about the outlook “decreases” “behind” and suggests a prolonged risk.

As a result, traders stopped pricing for interest rate cuts entirely in October, most certainly.

The market is still cautious

Bitfinex analysts paired it with a mix of Macro Pictures. After a 0.5% contraction in the first quarter, gross domestic product (GDP) in the second quarter reached 3% per annum.

However, a note from Bitfinex analysts shows that many of the improvements reflect low imports rather than robust domestic demand. Although final sales increased by just 1.2%, core consumer spending (PCE) eased to 2.5% quarterly, 2.9% y/y.

The background behind this is to leave the Fed to maintain stable amid the “sustainable inflation risk.”

As the Fed is easing confidence and highlighting rising uncertainty, Bitfinex analysts have emphasized that Crypto’s relief bids are free of fuel.

Measured downsides are expected when policymakers flag sticky inflation or question the quality of GDP growth. As a result, Bitcoin can look up after $114K and ETH has also become softer.

In the post-FOMC window, analysts warned that traders should monitor order flow response, volatility skew shifts, and funding dynamics to see direction.