MarsBit reported that Bessent clarified the discussion around a “$2,000 dividend,” describing the related fiscal stimulus plan as tax cuts rather than a direct injection of liquidity into the market. At the same time, Logan’s hawkish remarks weakened expectations for a Federal Reserve rate cut in December, reducing one of the key supportive narratives for risk assets.
Against that backdrop, Bitcoin and Ethereum prices fell sharply, and market fear intensified. The report linked the pressure to two developments: hawkish Federal Reserve language that lowered rate-cut expectations, and a fiscal-policy clarification that shifted the focus away from direct liquidity support. As a result, market confidence was hit.
The report also noted that the AI narrative has become the market’s final pillar, while Nvidia’s earnings report may bring further volatility. For the crypto market, the declines in Bitcoin and Ether occurred alongside changes in macro expectations, leaving bulls facing pressure across rate-cut hopes, fiscal-stimulus pricing and the AI trade.