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Bitcoin Price Today: Drops Below $90K as Fed Rate-Cut Doubts Weigh on Markets
Bitcoin fell below $90,000 on Tuesday for the first time in nearly seven months, as uncertainty over the U.S. Federal Reserve’s interest rate trajectory and caution around delayed economic data reduced demand for risk assets.
The world’s largest cryptocurrency traded 5.4% lower at $90,091.5 as of 05:22 GMT.
Bitcoin dropped to a 24-hour low of $89,471.4 — about 30% below its late-October peak above $126,000.
The decline accelerated after Bitcoin failed to hold support near $94,000 and formed a technical “death cross” on its short- and long-term moving averages.
Fed rate-cut doubts trigger risk-off sentiment
Investors are increasingly doubtful that the Fed will cut rates at its December meeting. Fed officials, including Chair Jerome Powell, have signaled reluctance toward further easing, leaving investors uncertain about the central bank’s next move.
Markets also remained cautious as policymakers still lack key data following weeks of release delays caused by the recent U.S. government shutdown.
The data backlog will begin to clear this week, with the September nonfarm payrolls report scheduled for release on Thursday.
Bitcoin pressured by slowing ETF inflows and waves of liquidations
A slowdown in spot Bitcoin ETF inflows also contributed to the decline, as institutional buyers stepped back amid heightened volatility.
Shares of crypto-related and mining companies also fell sharply, amplifying risk aversion across digital assets.
The move also followed a series of major liquidation waves in crypto derivatives markets, where leveraged positions worth billions of dollars were wiped out.
Data from major analytics firms showed that earlier this month, more than $19 billion in crypto positions were liquidated within a single 24-hour period, triggering forced selling.
Bitcoin last traded below $90,000 in late April. Its return to these levels highlights how quickly investor confidence has deteriorated as markets reassess geopolitical risks and the timing of U.S. rate cuts.
Crypto prices today: altcoins fall alongside Bitcoin
Most altcoins also saw steep losses on Friday amid broader risk aversion.
The second-largest cryptocurrency, Ethereum, fell 5.6% to $3,008.92.
The third-largest cryptocurrency, XRP, declined 4.4% to $2.15.
Solana fell 4%, while Cardano dropped 5% and Polygon lost 3%.
Among meme tokens, Dogecoin slipped 4%, while $TRUMP fell 1%.
See also: "Cardano Price Breaks 4-Year Support and May Fall Even Further"
