Bitcoin was largely steady near $92,000 on Thursday after sliding below the key $90,000 level in the previous session, as investors weighed conflicting signals from the Federal Reserve and awaited critically delayed U.S. jobs data.
The world’s largest cryptocurrency last traded unchanged at $91,882.4 by 02:11 ET (07:11 GMT)
It plunged to as low as $88,610.4 in the last 24 hours before recovering back above $90,000.
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Fed uncertainty remains; jobs data awaited Minutes from the Fed’s Oct. 28-29 meeting revealed a growing divide within its policy-making body over whether to cut interest rates at its Dec. 9-10 meeting.
Some officials argued a reduction was appropriate if the economy weakened, while others flagged persistent inflation and said a pause may be warranted.
Market-implied odds for a December cut have fallen in the wake of the disclosures.
Compounding the uncertainty, the Bureau of Labor Statistics confirmed that its October employment report will not be published because the 43-day federal government shutdown prevented the collection of the household survey.
The October establishment-survey data will instead be rolled into the November report, now scheduled for release on Dec. 16—after the Fed’s policy meeting.
Meanwhile, the September employment data – though delayed – is due later Thursday and will be the only full official labour-market snapshot prior to the Dec. meeting.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. “This gives the Federal Reserve an out to skip a rate cut, due to the "fog" as described by Chair Powell,” ING analysts said in a note.
Against this backdrop, the crypto market is showing signs of stress. Bitcoin’s inability to hold above $90,000 underscores fragile momentum.
The digital asset plunged from an early-October peak above US$120,000 as investors stepped back from risk assets in light of the policy ambiguity and data shortfall.
Crypto price today: altcoins rangebound amid cautious mood Most altcoins fell on Thursday, extending losses amid a cautious mood.
World no.2 crypto Ethereum fell 1.8% to $3,025.20.
World no. 3 crypto XRP declined 1.6% to $2.13.
Solana edged slightly higher, while Cardano and Polygon slipped marginally.
Among meme tokens, Dogecoin lost 1% and $TRUMP fell 2.3%.
