Market optimism for a 'Santa Rally' has waned following the Federal Reserve's unexpected hawkish rate cut, causing Bitcoin to retreat to $90,000. This development has cast doubt on the potential for a year-end market surge. In other news, Rushi Manche, formerly of Movement Labs, has launched Nyx Group with a $10 million fund aimed at supporting vetted token projects. This initiative seeks to foster innovation and growth within the crypto sector. Additionally, Gemini has received approval from the CFTC to operate a prediction market, signaling a potential expansion in crypto derivatives. Meanwhile, Tom Lee of BitMine has invested $112 million in Ethereum, indicating confidence in the cryptocurrency's future and suggesting a possible market bottom.