$BTC Bitcoin fell on Thursday, extending a run of steep losses as risk appetite was rattled by hawkish signals from the Federal Reserve, while the prospect of coin sales by the U.S. government also weighed. 

The world’s largest cryptocurrency largely wiped out a new year rebound this week, tracking broader declines in risk-driven assets as traders braced for a slower pace of rate cuts in 2025. 

Broader crypto prices also retreated, although losses on Thursday were more biased towards Bitcoin after reports said the Department of Justice had received court approval to sell coins confiscated from the Silk Road marketplace.

Bitcoin fell 2.1% to $94,471.1 by 00:56 ET (05:56 GMT), and had fallen as low as $93,323.1 earlier in the session.