Bitcoin Rebounds to $93K as Altcoins Lag, Metals Rally
Bitcoin (BTC) bounced back to $93,000 on Thursday after dipping to $89,000 following Wednesday’s Federal Reserve rate cut and a weak U.S. stock open. Analysts say selling pressure is easing, but caution that the market has not fully stabilized.
Altcoins largely remained under pressure. Cardano (ADA) and Avalanche (AVAX) fell 6%-7%, while Ether (ETH) dropped 3%, staying above $3,200.
Bitcoin’s late-day recovery coincided with modest gains in U.S. equities: the Nasdaq pared losses to close down 0.25%, the S&P 500 ended slightly positive, and the Dow Jones gained 1.3%.
Precious metals outperformed, with silver surging 5% to a record $64 per ounce and gold climbing over 1% to near $4,300, supported by a weaker U.S. dollar index.
Crypto exchange Gemini gained more than 30% after receiving regulatory approval to offer U.S. prediction markets.
Crypto Decoupling from Equities
Jasper De Maere, desk strategist at Wintermute, said crypto continues to diverge from equities around macro events. “Yesterday fit the pattern: equities rallied while crypto sold off, showing the Fed’s rate cut was already priced in,” he noted. He added that attention is shifting toward U.S. crypto regulation and early stagflation concerns ahead of 2026.
Bitcoin Selling Pressure Eases
Analytics firm Swissblock observed that Bitcoin’s downward momentum is slowing. “The second wave of selling is weaker than the first. Stabilization signs are emerging, though confirmation is still pending,” the firm said.
