Anadolu: Bitcoin fell more than 5.2% to its weakest level in seven months on Tuesday due to macroeconomic uncertainties, particularly regarding the US Federal Reserve’s interest rate path.
The largest cryptocurrency was trading at $90,100 at 0600GMT, around its weakest level since April. It also briefly sank below the $90,000 level.
Data from CoinMarketCap showed the value of the global cryptocurrency market, including Bitcoin, fell about 4.5% in the last 24 hours to $3.09 trillion.
Bitcoin’s market capitalization dropped by 5.2% over the past day to $1.94 trillion, while the daily trading volume rose about 46% to $106 billion.
The largest cryptocurrency’s weekly losses extended to 15.3% as of Tuesday. Bitcoin fell to as low as $74,400 in April 2025 after US President Donald Trump’s tariffs swept global financial markets.
Ethereum, the second-largest cryptocurrency by market value, slid about 5.4% to $3,013.
The global crypto market was hit hard by uncertainties surrounding monetary policy, mixed messages from Fed members, and growing concerns about market valuations.
Analysts noted that macroeconomic uncertainty, corporate exits, and classic profit-taking are fueling the sell-off, and that the persistent drop in Bitcoin’s price below $100,000 has had a psychological impact on investors.
The Fed’s reassessment of the possibility of a rate cut next month and the recent decline in equity markets due to high valuations of technology stocks have dampened investors’ risk appetite.
According to CME FedWatch, traders were pricing in a 46.6% chance of a 25-basis-point cut in December on Friday, down from a 63.8% probability in the previous week.
Meanwhile, a sell-off in the crypto market at the beginning of last month led to more than $19 billion in liquidations, reducing the value of the global cryptocurrency market, including Bitcoin, by more than $1 trillion.
