Українська
Русский
English
Bitcoin price today: falls to $88K despite demand for safe-haven assets
Bitcoin fell toward the $88,000 mark on Thursday, remaining under pressure despite a weaker U.S. dollar and a strong rally in gold, as investors assessed the Federal Reserve’s decision to keep interest rates unchanged.
The world’s largest cryptocurrency was trading 1% lower at $88,201.6 as of 06:56 GMT.
Bitcoin has remained range-bound between $86,000 and $89,000 this week. In January, it rose by just 1%.
Bitcoin subdued despite gold rally and weaker dollar
The subdued performance of cryptocurrencies stood in sharp contrast to the rising gold market, where the precious metal surpassed the $5,500-per-ounce level for the first time on Thursday. Demand for safe-haven assets, geopolitical tensions, and interest rate expectations from the Fed supported this move.
However, Bitcoin, often referred to as “digital gold,” continued to trade within a narrow range.
On Wednesday, the Federal Reserve kept its benchmark interest rate unchanged in the 3.50%–3.75% range, stepping back from three consecutive rate cuts.
Fed Chair Jerome Powell said policymakers need more evidence that inflation is sustainably moving toward the 2% target before considering further easing, pointing to a still-resilient labor market and steady economic growth.
Powell’s comments struck a cautious tone, reinforcing expectations that any rate cuts, if they occur, are likely to be gradual and data-dependent. This stance pressured risk-sensitive assets, including cryptocurrencies, as investors reassessed liquidity conditions in the coming months.
White House to meet banks and crypto firms over stalled U.S. legislation — Reuters
The White House plans to hold a meeting with leaders from the banking and cryptocurrency sectors next week in an effort to break a deadlock over landmark U.S. crypto legislation, Reuters reported on Wednesday, citing industry sources.
The meeting, convened by the administration’s crypto council, will focus on contentious provisions governing whether crypto companies can offer interest or rewards on dollar-pegged stablecoins.
The talks underscore President Donald Trump’s push to advance digital asset legislation following months of clashes between banks and crypto groups over competitive risks.
The summit could help reach a compromise on the bill known as the Clarity Act, which aims to establish federal rules for digital assets.
Crypto advocates argue that yield payments are critical to attracting customers, while banks warn they could accelerate deposit outflows and threaten financial stability. Senate work on the bill has stalled due to these concerns, Reuters reported.
Cryptocurrency prices today: altcoins also remain subdued
Most altcoins fell on Thursday, remaining subdued amid a broader risk-averse sentiment.
The world’s second-largest cryptocurrency, Ethereum, fell 1.5% to $2,958.92.
The world’s third-largest cryptocurrency, XRP, also slipped 1.5% to $1.88.
Solana dropped 2.4%, while Cardano and Polygon each fell 1.5%.
Among meme tokens, both Dogecoin and $TRUMP fell by 2%.
See also: "Hyperliquid surges another 23% in a day. What’s driving the rally?"
