Bitcoin held near $92,000 on Thursday, stabilizing after dropping below the key $90,000 level in the previous session. The market paused as investors assessed mixed signals from the Federal Reserve and waited for long-delayed U.S. jobs data.
By 02:11 ET (07:11 GMT), Bitcoin was trading almost unchanged at $91,882.4. The cryptocurrency had fallen as low as $88,610.4 in the past 24 hours before recovering above the $90,000 mark.
Fed Uncertainty Grows as Jobs Data Looms
Minutes from the Fed’s October 28–29 meeting showed a widening split among policymakers over the possibility of a rate cut at the December 9–10 meeting.
Some officials indicated that a cut may be justified if economic conditions deteriorate, while others warned that persistent inflation supported maintaining current rates.
Following the release, market expectations for a December rate cut dropped sharply.
Adding to the uncertainty, the Bureau of Labor Statistics confirmed that October’s jobs report will not be published because the federal shutdown prevented the collection of household survey data. Instead, October’s establishment data will be merged with November’s report, scheduled for December 16, several days after the Fed meeting.
The delayed September employment data—set for release later Thursday—will be the only complete labor-market report available before the Fed makes its next decision.
ING analysts said this situation creates enough ambiguity for the Fed to justify pausing rate cuts, describing the environment as a “fog,” echoing comments from Chair Powell.
Amid the unclear outlook, crypto markets remain under strain. Bitcoin’s struggle to stay above $90,000 highlights weak momentum. The token has dropped sharply from an early-October high above $120,000, as investors scaled back exposure to risk assets in response to the uncertain policy landscape.
Crypto Prices Today: Altcoins Move Lower
Altcoins extended their losses on Thursday, reflecting the broader cautious sentiment.
- Ethereum fell 1.8% to $3,025.20.
- XRP dropped 1.6% to $2.13.
- Solana posted a slight gain, while Cardano and Polygon saw small declines.
- Dogecoin slipped 1%, and $TRUMP fell 2.3%.
