Bitcoin falls to $93k as traders take profits, risk appetite dented by trade war fears

From Investing.com

November 27, 2024 01:37 AM:

Bitcoin fell for a third straight session as traders take profits from a recent rally. The world’s largest cryptocurrency failed to clear $100,000, now trading at $93,131.5. Risk appetite was further dented by Trump’s trade tariff threats, sparking fears of a renewed trade war.

Focus is on key U.S. economic data influencing interest rates. Federal Reserve’s preferred inflation gauge is due, following a split among policymakers over future rate cuts. Revised third-quarter GDP data is expected to show resilience in the U.S. economy, potentially impacting rate cuts.

Traders await tangible cues on crypto policy from Trump, set to take office on January 20. Altcoins retreat tracking Bitcoin weakness, with major tokens like Ethereum, Litecoin, and XRP seeing declines. Meme token Dogecoin lost 3% in recent sessions.

Read more at Investing.com: down to $93k with US econ. data, policy in focus By Investing.com