Bitcoin is having a tough week. Cryptocurrency fell below $95,000 on Fridayreaching as high as $94,491 at one point. That represents four straight days of losses and a decline of nearly 9% for the week.
Timing tells the story. Shares of big tech companies have fallen lately because investors are growing nervous about massive spending on AI. Since many people who invest in technology also hold Bitcoin, the selloff is affecting both markets. When one goes down, the other tends to follow.
Remember when Bitcoin hit $125,000 in October? It seems like ancient history now. The price has fallen 25% since then. A surprise tariff announcement from the White House triggered what one tracker called “the largest liquidation event in crypto history.” Bitcoin never really recovered from this blow.
Things got worse with the government shutdown that lasted from October 1 to November 13. No inflation data, no employment reports, nothing. Investors were flying blind trying to guess what Federal Reserve might have to do with interest rates. Currently, the odds of a rate cut in December have fallen from 90% to just 40%.
Conclusion
Bitcoin’s sharp decline reflects broader market uncertainty due to concerns in the tech sector and dwindling expectations for Federal Reserve rate cuts, leaving cryptocurrency investors navigating turbulent waters.
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