Bitcoin plunged to a six-month low on Thursday, slipping under the $100,000 threshold as doubts over near-term Federal Reserve rate cuts pressured risk assets.
Data from Coinbase via TradingView shows Bitcoin falling to $96,682, its weakest level since May 7, and a steep reversal from the record high above $126,300 reached in early October. The slide puts the world’s largest cryptocurrency down roughly 23% from that peak.
Analysts cited by Forbes say the downturn reflects a combination of macro uncertainty and waning momentum in digital asset markets. Expectations for a Fed rate cut have dimmed in recent weeks, reducing appetite for speculative assets, while crypto trading volumes have softened across major exchanges.
Market sentiment has cooled noticeably, traders say, leaving Bitcoin more exposed to abrupt price swings after months of strong gains.
Despite the pullback, Bitcoin remains significantly higher than its early-year levels.
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