Crypto Price Today: Bitcoin falls below $92,000; XRP, Chainlink decline over 3%
Bitcoin extended its previous day's decline, slipping below $92,000 on Tuesday amid profit-taking and the Federal Reserve's forecast of just two rate cuts for 2025, down from four in September due to persistent inflation.
At 10:26 am IST, Bitcoin was trading at $92,314, down 1%, with an intraday low of $91,317. Meanwhile, Ethereum was trading 1.8% lower at $3,326.
The selling pressure is partly due to investors cashing out after Bitcoin surged more than 117% this year. Uncertainty around the Federal Reserve’s rate policy for 2025 is adding to the cautious sentiment, especially with the Fed signaling a pause in rate cuts until at least March.
«Bitcoin is encountering resistance at $93,000 after witnessing strong volatility due to profit-taking and concerns about a potential economic slowdown. Bitcoin spot ETFs reported a cumulative $378 million in outflows yesterday, signaling a cautious stance among institutional investors,» said Vikram Subburaj, CEO of Giottus.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»«If $92,000 fails to hold, a new local low below $90,000 becomes a
Read more on economictimes.indiatimes.com
