Bitcoin hits six-month low amid Fed rate uncertainty
Bitcoin prices slipped below the $100,000 mark on Friday, reaching a six-month low, as broader risk assets weakened globally and bets on a US Federal Reserve rate cut in December diminished.
Easing institutional flows also contributed to Bitcoin’s decline for a third consecutive week, News.Az reports, citing foreign media.
The cryptocurrency fell 5.08% to $97,162.73, hitting an intraday low of $96,841.60, its lowest level since May 2025.
Bitcoin has dropped more than 23% from its all-time high above $126,000 recorded just a month ago. Despite the recent slump, the token remains about 5% higher year-to-date and over 40% up since the 2024 US election.
Among other cryptocurrencies, Ethereum prices dropped over 9%, Tether prices eased 0.02%, XRP fell 7%, Solana prices plunged over 8%, while Dogecoin prices declined nearly 7%.
“Bitcoin price saw a pullback below $100k and is consolidating between $99K - $101K. While the US government has officially ended the shutdown, the restart of federal operations may take time, meaning key economic indicators could still face delays, keeping investors cautious,” said analysts at CoinSwitch Markets Desk.
The pullback of Bitcoin price can also be tied to whale selling, with long-term holders offloading more than 815,000 BTC over the past month.
However, analysts believe the sentiment may improve in the coming weeks as markets look ahead to the Federal Reserve’s expected Quantitative Easing in December, which could restore liquidity and revive risk appetite.
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