Bitcoin Price Drops to $93k Amid US Economic Data and Policy Focus
Hey there! Ready for some exciting news in the world of cryptocurrency? Bitcoin made a comeback on Wednesday, gaining 1.8% to reach $93,936.0 by 08:49 ET (13:49 GMT).
Traders are keeping an eye on key U.S. economic readings this week, which could impact interest rates. The PCE Price Index data, due later today, will be a big factor in the Federal Reserve’s plans for future rate cuts.
On top of economic data, everyone’s talking about what Trump’s policies could mean for crypto. Will he make America the “crypto capital” of the world? With picks like Scott Bessent and Howard Lutnick showing support for crypto, there’s a lot of anticipation as Trump prepares to take office on January 20.
In other news, Trump is reportedly considering giving the Commodity Futures Trading Commission more power to regulate digital assets. This could mean big changes for the crypto sector, potentially reducing the Securities and Exchange Commission’s role.
And for all you altcoin fans out there, Ethereum, XRP, Solana, Cardano, and Polygon all saw gains on Wednesday, thanks to Bitcoin’s recovery. It’s an exciting time in the crypto world, so stay tuned for more updates!
Exciting stuff, right? Let’s see what the future holds for cryptocurrency!
