Bitcoin surged to nearly $94,000 amid expectations of a year-end crypto rally, but caution arose as Federal Reserve rate cut signals may pause future policy easing. Markets anticipate a 25 basis point reduction, with growing bets on a potential January pause by Fed Chair Jerome Powell.

Analysts express concern over Bitcoin’s recent lack of momentum, despite fresh purchases by Michael Saylor’s Strategy. The possibility of finishing the year under $100,000 looms, but optimism for a rebound arises if President Trump’s pick to replace Powell is industry-friendly Kevin Hassett.

Bitcoin has struggled to rebound recently, remaining cautious of chasing breakouts near the high-end of its range. Buyers within the past six months have a cost basis around $103,000 per token, leading investors to ‘sell the rip’ when trading below this level.

Despite a 2% slip this year, Bitcoin diverges sharply from stocks for the first time since 2014, with the S&P 500 showing a 16% gain. Wall Street adjusts expectations for the crypto sector, with Standard Chartered cutting its year-end Bitcoin price target to $100,000 from $200,000.

Read more at Yahoo Finance: Bitcoin jumps to $94,000, but ‘hawkish’ Fed cut threatens crypto rally