$BTC

The bullish wave led by Bitcoin bulls has slowed, especially after Federal Reserve Chairman Jerome Powell’s comments about waiting for interest rate cuts. Bitcoin fell below $87,000, but pared its losses to exceed $88,000 again. Ethereum also fell 4% to record below $3,100.

In the derivatives market, the premium on Bitcoin futures contracts decreased, with an increase in options contracts betting on the currency falling to $80,000. Trump’s support for cryptocurrencies has contributed to a 30% increase in Bitcoin’s value since the election, and led to a huge influx of investments in Bitcoin exchange-traded funds.

The market expects continued volatility until the announcement of new fiscal and monetary policies in the United States, with the $90,000 level being monitored as support or resistance.