Bitcoin falls to $94k due to Fed rate concerns

From Investing.com
January 13, 2025 01:23 AM:

Bitcoin prices fell for a third day due to strong U.S. payroll data, suggesting fewer rate cuts by the Federal Reserve. Bitcoin fell to $94,268.7. The U.S. added 256,000 jobs in December, lowering the unemployment rate to 4.1%. Higher rates could pressure Bitcoin, potentially pushing its value down to $90,000.

Reports of potential government sales of seized Bitcoin are influencing market dynamics. The Department of Justice received court approval to sell $6.5 billion worth of Bitcoin from the Silk Road black market. The U.S. government’s past liquidation of Bitcoin assets could introduce more supply, impacting prices and countering the idea of a strategic Bitcoin reserve.

Bitcoin’s market performance is affecting other cryptocurrencies. Ethereum dropped 1.6% to $3,229.02, while Binance Coin rose 3.8% to $2.5139. Ripple fell 1.3%, Litecoin declined 4.8%, and Dogecoin slumped 6.2%. Meme token Shiba Inu lost 3.2%.

Read more at Investing.com: falls for 3rd straight day to $94k on Fed rate jitters By Investing.com