Bitcoin Dragged by Risk-Off: After Breaking $84,000, Altcoins Also Weaken
Bitcoin was under pressure on Thursday, caught in the risk-off wave on Wall Street—especially after the gold euphoria suddenly "broke" and turned sharply lower. Bitcoin briefly dipped to $84,372 before rebounding somewhat; BTC is currently around $85,000.
The pressure came from a combination of defensive market sentiment: tech/software stocks weakened, investors reduced exposure to risky assets, and some market participants took profits after extreme movements in precious commodities. At the same time, the Fed's decision to hold interest rates has made the market increasingly focused on the next liquidity direction—and that usually makes crypto susceptible to "drift" when the market mood is cautious.
Powell's wait-and-see tone reinforced the perception that the next rate cut will be less aggressive and highly data-dependent. If easing expectations slow, non-yielding assets like crypto typically lose short-term fuel, while the dollar can gain breathing room for a brief rebound.
Altcoins were also affected. Ethereum fell to the $2.8,000 area, while other major tokens weakened: XRP around $1.83, Solana around $118, Cardano around $0.335, and Dogecoin around $0.120.
Meanwhile, the market is also monitoring regulatory developments—including discussions on crypto policy/regulations in the US—as such headlines can suddenly become catalysts for either a quick recovery or further pressure, depending on the direction of the compromise.
Source: Newsmaker.id
