cryptocurrency

Bitcoin price today: sinks for 3rd straight day to $91k on Fed rate jitters


Investing.com– Bitcoin sank on Monday, falling for a third straight day as stronger-than-expected U.S. payroll data stoked caution among traders, reinforcing the Federal Reserve’s view of fewer interest rate cuts in 2025.

fell 3.7% to $91,266.0 by 09:04 ET (14:04 GMT). 

Bitcoin prices fell sharply last week, having declined six out of the previous seven sessions as potential token sales by the U.S. government eroded sentiment towards crypto.

US rate jitters spark liquidity concerns

Robust U.S. employment data released on Friday has backed the Federal Reserve’s forecast of fewer rate cuts this year. In December, the U.S. economy added 256,000 jobs, surpassing forecasts of 153,000, and the unemployment rate declined to 4.1% from 4.2% in November. 

This strong labor market performance suggests that the Fed may adopt a more cautious approach to monetary easing.

Higher interest rates can exert downward pressure on Bitcoin and other cryptocurrencies, as they often lead to a stronger U.S. dollar and reduced liquidity in financial markets. 

Additionally, elevated Treasury yields have been associated with declines in Bitcoin’s price, with some analysts suggesting that sustained high yields could push Bitcoin’s value down to around $90,000.

Bitcoin pressured by reports of govt selling 

Another factor influencing Bitcoin’s market dynamics is the potential for government sales of seized cryptocurrencies. 

Last week, media reports emerged saying that the Department of Justice had received court approval to sell about $6.5 billion worth of Bitcoin confiscated from the Silk Road black market. 

The U.S. government has previously liquidated Bitcoin assets acquired through law enforcement actions, and the possibility of future sales could introduce additional supply into the market, potentially impacting prices. 

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This also likely opposes the idea of a strategic Bitcoin reserve under the Donald Trump administration, further weighing on the token.

MicroStrategy buys Bitcoin for 10th straight week

Michael Saylor’s MicroStrategy has expanded its Bitcoin holdings for the tenth consecutive week.

During the week ending January 12, the company acquired an additional 2,530 BTC for $243 million, raising its total holdings to 450,000 BTC. The latest purchase was made at an average price of $95,972 per bitcoin, bringing the company’s overall average purchase price to $62,691.

MicroStrategy shares fell more than 5% in premarket trading Monday, tracking Bitcoin’s losses.

Crypto price today: most altcoins record sharper declines than Bitcoin

In the broader cryptocurrency market, Bitcoin’s performance continues to influence other digital assets. 

World no.2 crypto  fell over 6% to $3,057.92.

World no.3 crypto  dropped 5.3% to $2.373.

plunged 6.5%, and  declined 7.8%, while  slumped 9.4%. Among meme tokens,  lost 5.8%.

Ayushman Ojha contributed to this report. 





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