Bitcoin Slides Below $97K Amid Assets Retreat, Fed Cut Expectations

Benzinga

Bitcoin fell to $96,682, its lowest level since May, as weak sentiment and fading expectations for Fed rate cuts drove a broader risk-off move. Analysts cited bubble fears, automated selling around $100k, and competition for capital from AI and government borrowing.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Bitcoin dropped to $96,682 late Thursday — its lowest level since May 7, according to Forbes.

00:10The price was down roughly 23 percent from the all-time high it reached in early October.

00:16Analysts said the latest declines were driven by weak sentiment

00:19and reduced expectations for a near-term Fed rate cut.

00:22Tim Enneking, managing partner of Salion, said Bitcoin's drop came from a mix of skepticism,

00:28bubble concerns, a possible end to the current cycle, macro worries, doubts about rate cuts,

00:33and automated trading around $100,000.

00:36AmberData's Greg Magadini said Bitcoin's decline followed a broad risk asset

00:41sell-off after major stock indices fell and recent good news catalysts were exhausted.

00:46He added that debt-funded AI enthusiasm competes with heavy government and digital asset treasury

00:51borrowing, creating pressure across markets. The S&P 500 and Dow Jones Industrial Average

00:57each fell more than 1.6 percent on Thursday. For all things money, visit Benzinga.com.

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