Bitcoin rejects at key $93.5K as Fed rate-cut bets meet 'strong' bear case
Bitcoin fell from its 2025 yearly open as strong US jobs data clashed with market expectations for a December Fed rate cut.Summary
Bitcoin weakened, slipping from its 2025 yearly open near $93,500, despite surprisingly low US jobless claims that usually signal economic strength. Markets, however, maintained high expectations (89% implied odds) for a Federal Reserve rate cut on December 10, driven by analysis suggesting the Fed must cut rates to support struggling consumers amid soaring large-cap tech stocks. This potential liquidity injection contrasts with Bitcoin's current weakness compared to stocks like the S&P 500, which is near all-time highs. Analysts warn that the bear case for Bitcoin remains strong as it failed to reclaim key resistance levels, including the $93,500 yearly open and levels near $100,000, suggesting caution is warranted until clearer bullish signals emerge.
(Source：Cointelegraph)