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Bitcoin Price: Stable Around $92K After Sharp Drop
Bitcoin mostly held steady near the $92,000 level on Thursday after falling below the key $90,000 mark in the previous session, as investors weighed conflicting signals from the Federal Reserve and awaited critical but delayed U.S. labor market data.
The world’s largest cryptocurrency was flat at $91,882.4 as of 10:11 Moscow time.
Over the past 24 hours, it fell to a low of $88,610.4 before recovering back above $90,000.
Fed Uncertainty Persists; Labor Data Awaited
Minutes from the Fed’s October 28–29 meeting revealed growing divisions within the policy-setting body regarding whether to cut interest rates at the December 9–10 meeting.
Some officials argued that a rate cut would be appropriate if the economy weakened, while others pointed to persistent inflation and said a pause might be justified.
Market expectations for a December rate cut fell after the release of the minutes.
Adding to the uncertainty, the Bureau of Labor Statistics confirmed that its October employment report would not be published because the 43-day federal government shutdown prevented the collection of household survey data.
The October business survey results will instead be included in the November report, now scheduled for release on December 16 — after the Fed’s policy meeting.
Meanwhile, September employment data — though delayed — is expected to be published later on Thursday and will serve as the only full official labor market reading ahead of the December meeting.
“This gives the Federal Reserve room to skip a rate cut due to the ‘fog,’ as Chair Powell described it,” ING analysts wrote in a note.
Against this backdrop, the crypto market is showing signs of strain. Bitcoin’s inability to hold above $90,000 highlights fragile momentum.
The digital asset has slipped from early October highs above $120,000 as investors retreated from risk assets amid policy uncertainty and a lack of data.
Crypto Prices Today: Altcoins Range-Bound Amid Caution
Most altcoins fell on Thursday, extending losses amid risk-off sentiment.
- Ethereum, the world’s second-largest cryptocurrency, fell 1.8% to $3,025.20.
- XRP, the third-largest, slipped 1.6% to $2.13.
- Solana posted slight gains, while Cardano and Polygon edged lower.
Among meme tokens, Dogecoin lost 1%, while $TRUMP dropped 2.3%.
See also: "BlackRock’s Bitcoin ETF Records a Massive $523 Million Outflow"
