The price of the cryptocurrency fell 3.6% to $90,957, its lowest level since November 26 and below its $108,316 high reached in December.
Bitcoin price fell to a nearly two-month low on January 13. Bloomberg reported this.
It was noted that the price of the cryptocurrency fell by 3.6% to $90,957, which is the lowest level since November 26 and significantly lower than the high of $108,316 reached in December.
The price of other crypto assets also fell. Ether was down 5.3% at 11:36 am in London.
According to Investing, US jobs data released on January 10 confirmed the Federal Reserve’s forecast for smaller interest rate cuts this year.
The US economy added 256,000 jobs in December, beating the 153,000 forecast, and the unemployment rate fell to 4.1% from 4.2% in November. Strong labor market indicators suggest the Fed may take a more cautious approach to easing monetary policy.
It was noted that higher interest rates can put pressure on Bitcoin and other cryptocurrencies, as they often lead to a strengthening of the US dollar and a decrease in liquidity in financial markets.
As reported, on December 16, 2024, the price of Bitcoin for the first time in history crossed the $106 thousand mark and once again broke the historical record.
We remind you that the newly elected US President Donald Trump announced the entrepreneur and investor David Sachs as responsible for the policy in the field of artificial intelligence and cryptocurrencies.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.