Bitcoin Holds $90,000 as Fed Rate Cut Fails to Spark Rally
Altcoins are broadly lower. Solana (SOL) is down 3.9%, while Dogecoin falls 3.8% and Cardano declines 3.6%.
Quick overview
- Bitcoin and Ethereum are nearing a significant options expiration that could influence market direction.
- Bitcoin is trading around $90,300, while Ethereum has dropped 5.3% to $3,089.
- Altcoins like Solana, Dogecoin, and Cardano are also experiencing declines.
- Despite a recent rate cut by the Federal Reserve, Bitcoin remains within a trading range due to ongoing macroeconomic uncertainty.
Both Bitcoin and Ethereum are approaching a key expiration that could define the market’s next move.
Cryptocurrency markets are trading slightly higher on Friday. According to Binance data, Bitcoin (BTC) is hovering around $90,300, remaining within its recent trading range. Ethereum (ETH), meanwhile, is down 5.3% at $3,089.
Altcoins are broadly lower. Solana (SOL) is down 3.9%, while Dogecoin falls 3.8% and Cardano declines 3.6%.
Fed signals caution, Bitcoin avoids a selloff
Although the U.S. Federal Reserve delivered a widely expected 25-basis-point rate cut, the message accompanying the decision was cautious with an eye toward 2026. At the same time, lingering macroeconomic uncertainty continues to cloud the outlook for risk assets, including Bitcoin.
As a result, despite a generally supportive backdrop for cryptocurrencies, analysts note that the Fed’s move failed to generate enough momentum for Bitcoin to break out of its current range, which has been fluctuating between $88,000 and $93,000.
At the same time, Bitcoin and Ethereum are approaching options expirations totaling roughly $4.5 billion. This typically leads to hedges being unwound, strategies rolled over, or positions closed altogether, adding short-term volatility.
Traditional markets
Meanwhile, Wall Street sold off sharply on Friday, as losses in the technology sector—particularly among chipmakers—triggered a broader decline in equities.
The Dow Jones Industrial Average fell 0.5% to 48,458.05 points, the S&P 500 dropped 1.1% to 6,827.05, and the Nasdaq Composite slid 1.7% to 23,195.17.
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