Bitcoin briefly tops $93,000 on Trump agenda, Fed policy outlook
The digital asset rose nearly 6% in the US to a record $93,462 but failed to hold the climb, falling back to $89,974 as of 10:28 a.m. on Thursday in Singapore. The wider crypto market swung between gains and losses amid choppy trading.
Speculators are trying to parse whether Trump’s rhetorical support for digital assets will continue to propel Bitcoin, opening a path to $100,000, or give way to a bout of profit-taking after a 33% advance since the US election on Nov. 5.
“After such an extended move it’s reasonable to think we will see opinions shift, resulting in increased two-way flows,” Chris Weston, head of research at Pepperstone Group, wrote in a note. “Still, the trend in Bitcoin is higher — for now — and I would expect buyers to kick back in once the liquidation of a concentrated position has run its course and we move to a cleaner position.”
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View Details»US inflation data on Wednesday met analyst projections, prompting traders to boost wagers on another quarter-point rate cut by the Fed in December. At the same time, Trump’s wider platform
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