Bitcoin fell to 93 thousand dollars due to US economic news
Kyiv • UNN
Bitcoin fell 1.6% to 9 93,131.5 due to profit-taking after the recent rally. Traders are waiting for US economic data and a reaction to Trump's statements on trade tariffs.
On Wednesday, bitcoin continued to fall for the third consecutive session, as traders actively took profits after the recent rally. Expectations of new signals about US economic policy also prompted the market to be cautious. Writes UNN with reference to Investing.
The world's largest cryptocurrency has been in a declining phase since the end of last week. Investors began to take profits after reaching record highs, especially due to the fact that bitcoin could not overcome the key level of 1 100 thousand.
Risks in the market increased after the statements of the newly elected US President Donald Trump, who threatened to introduce new trade tariffs against a number of countries. This raised concerns about a possible resumption of the trade war, which further cooled the risk appetite.
By 01:16 AM ET (06:16 GMT), bitcoin was down 1.6%, trading at.93,131. 5.
This week, investors are focused on key US economic indicators that may affect the future monetary policy of the Federal Reserve.
Special attention is focused on the PCE price index, the main indicator of inflation for the Fed, which will be published on Wednesday. This report is expected to determine the central bank's future plans to lower interest rates.
In addition, revised US GDP data for the third quarter will be published on Wednesday. Recent economic reports show the stability of the US economy, in particular inflation, which may limit the Fed's ability to quickly ease monetary policy.
Additional interest is caused by the policy of Donald Trump regarding cryptocurrencies. The president promised to make the United States the "crypto capital" of the world and proposed the creation of a national Bitcoin Reserve. However, traders are still waiting for concrete actions to assess the real impact of these initiatives on the market.
Traders are now waiting for clear signals on cryptocurrency policy from Donald Trump, who will officially take office as president on January 20. At the same time, his choice of candidates for key positions — Treasury Secretary Scott Bessent and commerce secretary Howard Lutnik — brought some optimism, because both politicians support the development of cryptocurrencies.
The weakening of bitcoin has negatively affected the main altcoins, which continue to show a decline after a sharp market crash in November.
Ethereum, the second-largest cryptocurrency by market capitalization, fell 0.4% to. 3,419.99. XRP, Solana, Cardano and Polygon lost from 0.9% to 5%, with the largest drop recorded by XRP.
Meme cryptocurrencies were also not left out: Dogecoin fell by 3%.
recall
Yesterday The Fall of bitcoin pulled down the entire cryptocurrency market.
