Crypto Price Today: Crypto Price Today: Bitcoin falls below $94,500; Cardano, Avalanche decline up to 6%
Bitcoin extended its decline for another day, falling over 2% to $94,357 on Thursday after strong US economic data suggested a robust economy, reinforcing the case for fewer rate cuts from the Federal Reserve.
Recent data showed that US services sector activity accelerated in December, and job openings increased in November. This resilience in the American economy signals fewer rate cuts from the Fed in 2025.
Markets are now pricing in the probability of just one rate cut from the Fed in 2025, down from two in December, according to the CME FedWatch tool. Previously, the Fed had indicated two rate cuts for this year, half of what was earlier expected.
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Meanwhile, rising U.S. 10-year Treasury yields, which have risen to 4.68%,…
