Bitcoin Rebounds to Approximately $93,000 Following Fed Rate Cut While Altcoins Remain Under Pressure
Bitcoin rebounded to about $93,000 after an early selloff and a dip to $89,000 following the Federal Reserve's rate cut and a weak stock market opening. BTC was trading around $92,918.81 and approximately $93,000 post-session, climbing as U.S. stocks closed modestly higher.
Altcoins mostly declined with ADA around $0.425, AVAX down 6-7%, and Ether near $3,251, down approximately 3%. The Nasdaq closed down 0.25%, the S&P 500 edged higher, and the Dow Jones rose about 1.3%.
The U.S. dollar index weakened to its weakest level since mid-October during this period. Gemini gained over 30% following news of U.S. regulatory approval to offer prediction markets.
Wintermute analyst Jasper De Maere noted that Bitcoin’s performance on macro days shows a growing decoupling from equities, with only 18% of the past year’s sessions seeing BTC outperform Nasdaq on such days. Additionally, Swissblock reported that downward pressure on Bitcoin is waning and signs of stabilization are present, although not yet confirmed; the second selling wave observed was weaker than the first.
