Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts
Bitcoin's price struggled near $90,000 after the Fed cut rates but Fed Chair Powell signaled a cautious future outlook.Summary
The Bitcoin price experienced a decline following the Federal Reserve's decision to cut its benchmark interest rate by 25 basis points to 3.50%–3.75%, a move widely anticipated by markets. Investor enthusiasm was tempered by the 9-3 FOMC split and Fed Chair Jerome Powell's hawkish remarks, which suggested a cautious approach for 2026, with little consensus for further significant cuts. Bitcoin briefly surpassed $94,000 but subsequently stabilized around $89,730. Analysts noted this reversal was due to the unexpectedly hawkish tone and a "sell the fact" dynamic, as the rate cut was already priced in, compounded by concerns over political/economic developments and inflation risks from AI capital expenditure.
Broader market concerns also contributed, as technology stocks like Oracle saw declines. While some analysts, like those at Bernstein, foresee an elongated bull cycle driven by institutional buying, others, like Standard Chartered, recently lowered their year-end Bitcoin forecast from $200,000 to $100,000. JPMorgan remains bullish, projecting a $170,000 target within a year. Key technical levels for Bitcoin are identified, with support at $87,200 and resistance near $94,000 and $107,000–$110,000.
(Source：Bitcoin Magazine)