The price of Bitcoin briefly dipped below $93,000 earlier Wednesday, per data from CoinGecko, facing pressure after a series of macroeconomic data points sparked inflation jitters among investors.
Jake Ostrovskis, an OTC trader at Wintermute, told Decrypt that crypto prices have been tightly correlated with traditional assets since the Fed’s December FOMC meeting, in which policymakers signaled a more cautious approach to easing financial conditions in 2025.
Traditional assets have been pricing out Fed rate cuts amid signs that the U.S. economy remains strong, and that’s had a pronounced effect on the crypto market as inflows spurred on by a wave of post-election hype cool down, he said.
The Institute for Supply Management, for…
