Bitcoin Trades Below $90,000 Amid Fed Rate Decision
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1d ago- Cautious Market Sentiment: Bitcoin is trading around $87,900, down approximately 4% weekly, as cautious sentiment prevails ahead of the Fed's interest rate decision, leading investors to avoid risk-taking.
- Low Trading Volumes: Glassnode's Market Pulse report indicates that spot trading volumes remain low, suggesting a consolidation phase rather than a strong upward trend, which exacerbates market fragility.
- Institutional Outflows: Global crypto ETPs saw outflows of $1.7 billion last week, with US spot Bitcoin ETFs recording net outflows for five consecutive days, totaling over $1.3 billion, indicating weakened demand for Bitcoin.
- Macroeconomic Impact: Investors interpret Bitcoin's position below $90,000 as a repricing of interest rate expectations, with high rates anticipated until 2026, increasing competition with US Treasury bonds offering nearly 4% yields.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
