On Thursday, Bitcoin BTC$92,941.39 managed to recover to $93,000 as traders processed the Federal Reserve’s recent decision; however, most altcoins did not follow suit.
After dropping to $89,000 following the Fed’s rate cut on Wednesday and a significantly lower opening for U.S. stocks, Bitcoin was recently trading at $93,000—showing a slight increase over the past day.
The majority of altcoins retained their initial losses. Cardano’s ADA ADA$0.4241 and Avalanche’s AVAX (AVAX) were among those leading declines with drops of 6% to 7%. Ether ETH$3,248.77 fell by 3% during the day but remained above $3,200.
The late-day rebound in Bitcoin coincided with similar movements in U.S. stock markets; notably, the Nasdaq closed down just 0.25% after previously being down by as much as 1.5%. The S&P 500 finished slightly positive while DJIA rose by 1.3%.
A remarkable rally was observed in precious metals that day: silver surged by an impressive 5%, reaching a new all-time high of $64 per ounce while gold climbed over 1%, nearing $4,300 in value—a movement supported by a decline in the U.S dollar index (DXY), which hit its lowest point since mid-October.
The cryptocurrency exchange Gemini distinguished itself among crypto-related stocks with an impressive gain exceeding 30%, attributed to receiving regulatory approval for offering prediction markets within the United States.
Divergence Between Crypto and Equities
Jasper De Maere from trading firm Wintermute commented that Thursday’s market behavior highlighted cryptocurrencies’ increasing separation from equities—particularly concerning macroeconomic influences.
“In only about 18% of last year’s sessions did BTC outperform Nasdaq during macro events,” he remarked. “Yesterday exemplified this trend: while equities rallied upward, crypto experienced sell-offs indicating that market participants had already priced in rate cuts and marginal easing no longer provided support.”
De Maere also pointed out early indications of stagflation concerns emerging into early half of next year (2026), suggesting that market focus is shifting away from Federal Reserve policies towards upcoming regulations surrounding cryptocurrencies as potential key drivers moving forward.
Selling Pressure on Bitcoin Easing
An analysis conducted by Swissblock revealed diminishing downward pressure on Bitcoin prices—the market appears more stable though not entirely out of danger yet.
“The second wave of selling is less intense than its predecessor; we are not seeing any escalation in selling pressure,” stated Swissblock via an X post.” There are indications pointing toward stabilization… yet confirmation remains absent.”