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After the brief dip, Bitcoin has recovered slightly to reclaim the $100,000 level to currently trade at $101,040 as of 10:30 am on Thursday.
Bitcoin Price Today.
Bitcoin Price Today: Halting the gaining streak, the world’s largest cryptocurrency Bitcoin on Thursday fell below the $100,000 level to $98,792.67 after the US Fed’s 25 bps rate cut decision and its hawkish tilt raised concerns about the inflation outlook. It was 6.18 per cent lower than the day’s high of $105,302.37.
However, after the brief dip, Bitcoin has recovered slightly to reclaim the $100,000 level to currently trade at $101,040 as of 10:30 am on Thursday, according to binance.com.
Bitcoin had hit its all-time high of $108,239.41 on December 17. It has also hit multiple record highs since pro-crypto Donald Trump won the US Presidential election.
“The sudden and sharp reaction to the Federal Reserve’s rate cut — causing Bitcoin to plummet by over $8,000 in just 36 hours — highlights the fragility of investor sentiment in the current macroeconomic environment. As inflation concerns resurface with CPI data showing alarming trends, the cryptocurrency market’s volatility underscores the growing need for decentralised, inflation-resistant assets.” Avinash Shekhar, co-founder & CEO, Pi42.
Among other cryptocurrencies, Ethereum was down by 4.79 per cent, BNB by 1.25 per cent, Solana by 4.30 per cent, XRP by 6.35 per cent, DOGE by 6.43 per cent, and Shiba Inu by 5.87 per cent.
