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Cryptocurrency performance varied.. Bitcoin falls to $93,000
01/09/2025
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Cryptocurrency performance varied during Thursday's trading, with the escalation of investor withdrawals from Bitcoin exchange-traded funds, amid fears of a return to high inflation in the United States.
Bitcoin fell by 0.9% to $93,141.2 at 01:32 PM Mecca time, while Ethereum rose by 0.25% to $3,290.
While Ripple fell by 1.75% to $2.2984, and Dogecoin by 3% to 32.63 cents.
Bitcoin ETFs saw outflows worth $582 million, and their Ethereum counterpart recorded an outflow of $159 million yesterday, Wednesday, according to data from "Soso Value".
The large outflows coincide with renewed concerns about inflation in the United States, which have fueled bond market volatility, sending risky assets lower.
Federal officials expressed concern about inflation and the impact of President-elect Donald Trump’s policies in the minutes of their policy meeting released yesterday, indicating that they will move more slowly toward cutting interest rates due to the uncertainty.
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