Bitcoin moved higher on Friday but continued to trade within its recent range as investors assessed the Federal Reserve’s latest interest rate cut and its updated economic outlook.
The world’s largest cryptocurrency was last up 2.5% at $92,579.6 by 01:51 ET (06:51 GMT). For the week, Bitcoin was on track to gain nearly 4%, recovering modestly after a sharp decline in November and a pullback in the previous week.
Bitcoin remains rangebound despite Fed rate cut
Bitcoin has struggled to build sustained momentum in December, even after the Federal Reserve delivered another round of policy easing. Prices have largely oscillated within a narrow $88,000 to $93,000 range, which has defined most of the month’s trading activity.
On Wednesday, the Fed lowered interest rates by 25 basis points, marking its third cut this year. Policymakers also signaled a cautious stance toward further easing in 2026. While the move was broadly supportive for risk assets, analysts said the central bank stopped short of the more dovish shift some market participants had expected, limiting upside for cryptocurrencies.
Analysts also highlighted ongoing macroeconomic uncertainty, with the Fed projecting slower economic growth and revealing divisions within its policy committee. This cautious backdrop has prevented Bitcoin from breaking decisively higher, contrasting with previous easing cycles that sparked strong rallies across digital assets.
Crypto prices today: altcoins advance
Elsewhere in the crypto market, most major altcoins also traded higher on Friday, although gains were limited by the same rangebound sentiment. Ethereum, the second-largest cryptocurrency, rose 1.7% to $3,255.92, while XRP added 1.2% to trade at $2.04.
Solana outperformed with a jump of more than 6%, while Cardano was largely unchanged. Polygon posted a 1.5% gain. Among meme tokens, both Dogecoin and $TRUMP climbed 1.6% during the session.
