Bitcoin Falls Below $100,000 As Fed Rates Outlook Drags Crypto Markets
- Bitcoin slid below $100,000 Thursday as traders were rattled by the Fed’s rate guidance.
- The crypto dropped more than 5% to trade around $98,000.
- Other cryptocurrencies, like Ethereum and XRP, also slumped.
Bitcoin tumbled below the $100,000 threshold on Thursday, weighed down by the outlook for fewer rate cuts in 2025.
While other risk assets like stocks were looking to stage a rebound after a steep plunge on Wednesday, bitcoin continued to sag. The apex token was down by more 5% by midday to trade around $98,835.
Other cryptocurrencies also sold off, with Ethereum and XRP each falling more than 4%. The total crypto market capitalization, meanwhile, was dragged down nearly 7% to $3.41 trillion,…
