Bitcoin dropped to a six-month low as investors retreated from riskier assets and considered a potential Fed rate cut. The digital currency hit $86,390, its lowest since April, before trading at $86,965. Strong US jobs data raised doubts about a rate cut, pushing the probability to 40% in December according to CME Group’s FedWatch tool. Bitcoin’s decline also impacted stocks, following Nvidia’s positive earnings report. The price drop was attributed to liquidations of leveraged crypto positions in early October.

Read more at CNBC: Bitcoin falls to lowest level since April