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Bitcoin is bleeding 🩸
From above $100K to under $90K in a week: Bitcoin leads a crypto market dive amid concerns that U.S. rate cuts are done.
Andrew Hayward
January 13, 2025
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📝 What you need to know
Bitcoin is already having a rough week.
Amid rising fears that the Fed won’t cut interest rates this year, financial markets turned red early Monday—and Bitcoin briefly fell below $90,000 for the first time in two months.
Now trading for above $92,000, the top coin is down more than 9% over the last week, and 15% since hitting an all-time high above $108,000 in December. Other top coins have fallen harder than Bitcoin on the day, with Ethereum plunging 7% and Solana down 6%.
Is this just a blip in the radar, or are the bullish vibes fading for good? Coinbase’s Head of Institutional Research David Duong told Decrypt that his team is “still cautiously optimistic” about Bitcoin’s performance this quarter, but admitted that “the path is unlikely to be a smooth one."
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