BTC/USD: Bitcoin Wobbles Under Six Digits After Crawling Out of $92,000 Weekend Dip

Orange coin wasn’t the only one to crumble under the weekend selling pressure — Ether neared $3,100 before paring back some of the loss.

• Bitcoin prices BTCUSD were off to a bumpy start of the Holiday week after reeling out of a steep decline over the weekend. The OG cryptocurrency dipped to $92,000 on Saturday but blockchain-savvy traders rushed to scoop it up and bump it up to levels near $97,000. Ether, the second-largest token, fell to $3,100 before paring back some of the loss to trade near $3,300.
• Crypto circles are having a difficult time supporting prices after the Federal Reserve laid out its forward guidance for 2025. The US central bank last Wednesday poured cold water on virtually every rally out there in the markets (ok, except maybe for the dollar) when it cut its interest rate-cut forecast to just two trims from four. Now, crypto is feeling the heat as digital asset enthusiasts pull back their bets and the euphoria gives way to cautiousness right as we get ready to ring in the new year. So, what’s the bottom line this year?
• Bottom line is this: crypto boomed more than ever. Bitcoin hit a record high of $108,000, climbing to a market valuation of more than $2.1 trillion. President-elect Donald Trump is already out and about, assembling a team of A-list billionaires and entrepreneurs who will seek to usher in a new era of growth for the crypto industry. In a nutshell, the crypto outlook (excluding the Fed’s message) has never been brighter.